Eni has announced it is not pursuing Galp’s asset divestment process in Namibia, saying it is focused on developing its own oil discoveries in the country.
“No, we are not interested. We have found our resources. We have a new exploration well coming. So we are focused on our block and our resources at the moment,” said Chief Operating Officer Guido Brusco during the company’s second-quarter 2025 results presentation.
Eni has reported strong exploration results, with around 600 million barrels of oil equivalent discovered in the first half of 2025 across Namibia, the Ivory Coast, and Norway. Further drilling in Namibia is planned for later this year.
“Namibia is a clear example of how effective our business model is with the satellite. So when we created the satellite of Azule, the objective was, of course, to develop the resources in the country, but of course, also to expand regionally, and Namibia is a clear example of that strategy materialising into an execution,” Brusco said.
Galp, which holds a stake in Petroleum Exploration Licence (PEL) 83 in the Orange Basin, announced in May that it is looking for strategic partners for its Mopane oil discovery. By July, it said it had received non-binding offers from a shortlist of “highly credible” companies.
TotalEnergies has been linked to the process, with CEO Patrick Pouyanné saying, “We’ll see what will happen,” when asked about possible interest in Mopane.
Galp confirmed a hydrocarbon discovery in February after drilling the Mopane-3X well, about 18 km from its earlier Mopane-1X site, targeting three prospects in water depths of around 1,200 metres.
