TotalEnergies and Chevron are the front-runners in the auction for a 40% operating stake in Galp’s Mopane oil discovery offshore Namibia, according to Reuters.
Mopane is estimated to hold at least 10 billion barrels of recoverable resources, and Galp has said it expects to announce a winning bidder by the end of the year.
Both TotalEnergies and Chevron declined to comment on the bidding process. Galp confirmed progress in negotiations but did not name the companies involved.
“Negotiations regarding Namibia are progressing with a shortlist of preferred bidders strongly aligned with Mopane,” a Galp press officer told Reuters, declining to identify the shortlisted firms.
The development follows Galp Energia’s announcement in October that it is on track to secure a new strategic partner before the end of 2025.
At the time, Co-CEO João Marques da Silva said conversations with shortlisted bidders were progressing positively, with “strong alignment on the next phase of development.”
Galp holds a majority stake in Petroleum Exploration Licence (PEL) 83 in the Orange Basin and has been in talks with several international oil majors over the sale of a 40% interest and operatorship.
The Mopane discovery has significantly boosted the profile of PEL 83, which lies in the same geological corridor as TotalEnergies’ Venus discovery.
