Galp completed the sale of half of its position in block PEL83 to TotalEnergies, a transaction that had been announced at the end of last year. This project in Namibia represented one of the largest oil discoveries in the history of the Portuguese company.
The Portuguese oil company had previously acquired minority positions in two other Namibian projects as part of this agreement. TotalEnergies thus obtained a majority position in block PEL83.
The discovery in block PEL83 in Namibia was considered one of the most significant in Galp's history, generating great expectations about the oil potential of the African country.
The conclusion of this transaction marks an important step in Galp's strategy in Namibia, allowing the company to maintain its presence in the country through its minority positions in the other two projects.
