Potentially recoverable oil at Mopane oilfield has surged by 57%, reinforcing its status as one of the most significant recent discoveries in Africa’s energy sector, CNBC Africa reported.
According to a shareholder update highlighted by TradingView, contingent resource estimates at the field have risen to about 1.38 billion barrels, up sharply from earlier projections following successful appraisal and exploration activity.
The field is operated by Galp Energia, with major global players including TotalEnergies involved in its development, underscoring growing international interest in Namibia’s offshore potential. The project is part of the prolific Orange Basin, which has attracted significant investment in recent years.
Development timelines indicate a final investment decision could be reached by 2028, with first oil targeted around 2032, positioning Namibia to join the ranks of major oil-producing nations over the next decade.
Analysts say the resource upgrade highlights the scale and upside potential of Namibia’s offshore reserves, with Mopane increasingly viewed as a world-class asset that could transform the country’s economic outlook and reshape.
