TotalEnergies and Galp Complete Asset Swap for Mopane and Venus Oil Discoveries
Source Summary
TotalEnergies and Galp have completed a swap transaction involving the Mopane and Venus oil discoveries in Namibia's Orange Basin. The deal positions TotalEnergies as the operator of Namibia's two largest oil discoveries. The transaction strengthens TotalEnergies' position in the Orange Basin and supports long-term value creation from its licenses in the region.
Why it matters
TotalEnergies now operates Namibia's two largest oil discoveries, consolidating its control over major hydrocarbon resources in a strategically important basin.
