Portuguese giant Galp Energia has invested N$2.3 billion (€110 million) in Namibia’s energy sector during the first quarter of 2025, as the company advances its exploration activities.
Galp Co-Chief Executive Maria João Carioca said the investment forms part of the company’s broader upstream strategy, with Namibia emerging as a key focus area alongside Brazil.
“In Namibia, we concluded another successful well in February—safely drilled and unlocking an exciting new area within Mopane, now in the southeastern part of the complex,” Carioca said.
In addition to drilling, Galp completed proprietary seismic surveys in the region, which are expected to take at least a year to fully integrate.
She noted that the data will be critical for advancing feasibility studies and refining development plans.
“We also finished proprietary seismic work, which will now take at least a year to fully integrate. In the coming months, we will continue to assess and incorporate the data into our models and move forward with feasibility studies,” said Carioca.
Carioca emphasised that Galp is seeking to build strategic alliances to support the development of its Namibian assets.
“In parallel, we are starting to re-engage with potential partners, mindful that the process toward forming a value-accretive partnership will likely take time,” she said.
