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Galp closes agreement with French in NamibiaPhoto by Khaya Motsa on Pexels
Business
Энергетика

Galp closes agreement with French in Namibia

Jornal Económico3 September 2026 at 08:42

Galp announced this Thursday, September 3, that it reinforced its presence in Namibia's oil, expanding its partnership with the French TotalEnergies from one to three offshore blocks. The company maintains a 40% stake in PEL 83, where it made the Mopane discovery, and now holds stakes of 10% in PEL 56 and 9.39% in PEL 91.

The new configuration also includes participation in Venus, described by the Portuguese oil company as one of Namibia's most advanced development projects, which is progressing towards final investment decision. Galp states that this position diversifies its exposure between assets at different stages of maturity.

According to the company, the next milestones in Namibia will be the start of the new Mopane exploration and evaluation campaign, scheduled for the fourth quarter of 2026, and Venus advancing towards final investment decision. On the Lisbon stock exchange, Galp shares were up more than 1% to values above 21 euros.

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