TotalEnergies to Partner with Galp Energia on Mopane Discovery in Namibia

By Adam Whittaker

TotalEnergies said it would acquire at 40% stake in Galp Energia's license in Namibia, which includes the Mopane discovery.

The French energy major said Tuesday that it would work with Portugal's Galp to drill three wells over the next two years as part of the appraisal program.

TotalEnergies will be liable for half of Galp's capital expenditure for the exploration of the Mopane discovery, it said. This will be repaid through half of Galp's future cash flows from the project, the company said.

As part of the transaction, Galp will acquire 10% of a license held by TotalEnergies, which includes the Venus discovery.

Write to Adam Whittaker at [e-mail]

(END) Dow Jones Newswires

12-09-25 0432ET