Namibia approves TotalEnergies Mopane deal, expands Orange Basin oil push

Namibia’s energy ministry (the Ministry of Industries, Mines and Energy) has approved TotalEnergies’ acquisition of a 40% stake and operatorship in Galp Energia’s Mopane oil discovery in the Orange Basin, marking a significant step in the French energy giant’s offshore expansion strategy.

The Mopane transaction aligns closely with TotalEnergies’ flagship Venus project, bringing both assets under a unified operational structure. The move is widely seen as a critical step toward a final investment decision on Venus, as global energy companies deepen their presence in Namibia’s offshore oil industry.

TotalEnergies expands control over key offshore assets

Under the agreement, TotalEnergies will assume operatorship of the Mopane discovery from Galp Energia. In exchange, Galp will secure a 10 percent stake in the Venus project, ensuring continued participation in one of Namibia’s most significant offshore developments.

The deal strengthens TotalEnergies’ control over two of the Orange Basin’s most promising discoveries, positioning the company to drive coordinated development across both assets. Industry analysts view this alignment as a strategic move to improve efficiency, reduce execution risks, and accelerate production timelines.

Government approval clears path for development progress

The approval was confirmed during TotalEnergies’ earnings call on July 23, 2026, with Chief Financial Officer Jean-Pierre Sbraire noting that the Namibian government granted clearance in the week ending July 17. Final documentation is now being completed to close the transaction.

Sbraire emphasized that aligning Mopane and Venus under a single operator is central to advancing toward a final investment decision. While partners are targeting a near-term decision, timelines remain flexible pending final agreements with the government.

The Namibian government has backed the appointment of a single experienced operator to enhance coordination and execution across both projects, reflecting its broader strategy to ensure efficient resource development.

Next phase targets wells and investment milestones

Following completion of the Mopane transaction, TotalEnergies plans to move into the next phase of development, including an appraisal program involving three wells scheduled for 2027. Partners are also targeting a final investment decision for Mopane by 2028.

These milestones highlight the growing pace of activity in Namibia’s offshore sector, as operators transition from discovery to development. The dual progress of Venus and Mopane is expected to play a pivotal role in shaping Namibia’s oil production outlook over the next decade.

Orange Basin attracts global energy investment

The approval underscores increasing global confidence in Namibia’s offshore potential. A series of major discoveries in the Orange Basin has positioned the country as a rising force in Africa’s energy landscape, attracting investment from leading international oil companies.

For TotalEnergies, Namibia represents a key pillar of its long-term growth strategy beyond 2030. The combined development of Venus and Mopane is expected to significantly strengthen its upstream portfolio while supporting Namibia’s ambitions to become a major oil producer.