TotalEnergies deepens Namibia push

TotalEnergies is expanding its offshore petroleum footprint along Africa's south-west coast, taking operatorship of three petroleum exploration licences in Namibian waters while pursuing a fourth and adding exploration acreage in neighbouring Angola.The French energy major now operates Namibia's PEL56, PEL83 and PEL91, giving it control of acreage containing the Venus and Mopane discoveries and additional exploration prospects.It is also seeking a 42.5% interest and operatorship of PEL104 in the Lüderitz Basin. If completed, the deal would give TotalEnergies four operated petroleum exploration licences in Namibia.The expansion has accelerated this month.TotalEnergies completed its acquisition of a 40% operated interest in PEL83 from Galp on 3 September, bringing Namibia's two largest oil discoveries, Venus and Mopane, under the same operator.On 10 September, it announced an oil discovery in Angola and agreements for 40% operated interests in Blocks 17/25 and 32/21.The company is also pursuing four other Angolan blocks, while TotalEnergies and its partners plan to invest about US$10 billion in the country over the next five years.Namibia's three licencesTotalEnergies' longest-established Namibian position is PEL56, where it holds 35.25% and is the operator.QatarEnergy holds 35.25%, Galp 10%, NAMCOR 10% and Impact Oil &amp; Gas 9.5%.PEL56 contains Venus, discovered in 2022 and being advanced as TotalEnergies' first potential Namibian development.The company estimates Venus at around 750 million barrels of oil equivalent and has been working on an FPSO-based development capable of producing about 150,000 barrels of oil equivalent per day.TotalEnergies previously targeted a final investment decision around mid-2026 but has not announced an FID.On 3 September, TotalEnergies completed its transaction with Galp and became operator of PEL83, which contains the Mopane discoveries.TotalEnergies and Galp each hold 40%, while NAMCOR and Custos Energy hold 10% each.The company estimates Mopane at between 800 million and 1.1 billion barrels of oil equivalent and plans further exploration and appraisal drilling before a possible FID in 2028.It has indicated that a Mopane development could support production exceeding 200,000 barrels of oil equivalent per day.Venus and Mopane therefore contain between 1.55 billion and 1.85 billion barrels of oil equivalent, based on TotalEnergies' estimates. These are resource estimates, not proved petroleum reserves.PEL91 gives TotalEnergies its third operated Namibian licence.It holds 33.09%, alongside QatarEnergy with 33.03%, NAMCOR with 15%, Impact with 9.5% and Galp with 9.39%.Unlike PEL56 and PEL83, PEL91 does not contain either of the company's major Namibian discoveries.Fourth Namibian licence in sightTotalEnergies is seeking to add PEL104 to its portfolio.In February, it agreed to acquire a 42.5% operated interest in the approximately 11,000-square-kilometre licence from Eight Offshore Investments Holdings and Maravilla Oil &amp; Gas. Petrobras separately agreed to acquire another 42.5%.If completed, TotalEnergies would operate PEL104 with 42.5%, Petrobras would hold 42.5%, NAMCOR 10% and Eight Offshore 5%, while Maravilla would exit.The transaction remains incomplete.The Namibian government objected shortly after the February announcement, saying the transaction was announced before the required regulatory process had been completed.TotalEnergies confirmed on 3 September that it operates PEL56, PEL83 and PEL91 and is still progressing its entry as operator of PEL104.The licence would extend its exploration position into the Lüderitz Basin.Angola expansionTotalEnergies is expanding its Namibian position alongside a much larger petroleum business in Angola.On 10 September, it announced the Acacia-5 discovery on Block 17 and agreements giving it 40% operated interests in Blocks 17/25 and 32/21.ExxonMobil will hold 40% of each block and Sonangol E&amp;P 20%.The blocks are close to TotalEnergies' existing production infrastructure on Blocks 17 and 32 and already have 3D seismic coverage, allowing commercial discoveries to potentially be tied into existing facilities.Acacia-5 is being advanced through a tie-back to the existing Pazflor FPSO. TotalEnergies expects the discovery to add about 6,000 barrels of oil per day.TotalEnergies operates Block 17 with a 38% interest. The block contains the Girassol, Dalia, Pazflor and CLOV production hubs.Its other major deepwater production centre is Block 32, which contains Kaombo.Four more Angolan blocksTotalEnergies is also pursuing interests in Blocks 40, 41, 42 and 58 in the Benguela Basin.In February, it signed a heads of agreement with Angola's National Oil, Gas and Biofuels Agency and ExxonMobil to farm into the four blocks.TotalEnergies would acquire 35% of each if completed.The company is therefore pursuing or has recently secured interests in six additional Angolan exploration blocks – 17/25, 32/21, 40, 41, 42 and 58.Its Angolan interests extend beyond exploration. TotalEnergies and its partners plan to invest about US$10 billion in Angola over the next five years.Major projects include Kaminho in the Kwanza Basin, where TotalEnergies operates Block 20 with 40%, alongside Petronas with 40% and Sonangol with 20%.Kaminho will develop the Cameia and Golfinho discoveries through an FPSO designed to produce about 70,000 barrels per day. First production is expected in 2028.The company also brought Begonia and CLOV Phase 3 into production in July 2025, adding about 60,000 barrels per day between them.In March this year, production started from Quiluma, part of Angola's first non-associated natural gas development.TotalEnergies holds 11.8% in the project, alongside operator Azule Energy with 37.4%, Chevron's Cabinda Gulf Oil Company with 31% and Sonangol E&amp;P with 19.8%.Quiluma is expected to produce around 330 million cubic feet of gas per day and supply Angola LNG.If the PEL104 transaction is completed, TotalEnergies will operate four licences in Namibia, adding to its expanding offshore position in Angola.

TotalEnergies deepens Namibia push

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Republikein 2026-09-16

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TotalEnergies deepens Namibia push

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