TotalEnergies and Chevron have moved into leading positions in the race to acquire a 40 percent operating stake in Galp Energia’s Mopane oil discovery offshore Namibia, according to sources cited by Reuters. The field, located in the Orange Basin, is considered one of Africa’s most significant recent finds, with early estimates placing the resource at a minimum of ten billion barrels of oil equivalent.
Industry insiders quoted by Reuters said Galp aims to select a winning bidder before the end of the year as competition intensifies among global oil majors seeking to expand portfolios in frontier regions. Reports from World Energy News noted that both TotalEnergies and Chevron already hold assets near Mopane, giving them strategic advantages in the bidding process.
Marketscreener also highlighted that the scale of the discovery is drawing strong interest, underscoring Namibia’s emergence as a potential new energy hub in southern Africa.
Analysts say the outcome of the bid could reshape the country’s long-term production outlook, given that Namibia currently has no commercial hydrocarbon output.
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