French oil major, TotalEnergies, is targeting a final investment decision in 2028 for its Mopane oil development offshore Namibia.
In a corporate briefing, Deputy Chief Financial Officer Arnaud Le Foll said exploration and business development efforts in Namibia’s offshore basin have delivered discoveries that are shaping a new production area for the company.
“Our exploration and business development efforts in the Orange Basin have led to significant discoveries that are now forming the foundation of a new deepwater golden province for TotalEnergies,” Le Foll said.
The project is positioned as a central part of the Total’s long term deepwater plans in the Orange Basin.
Across petroleum licences PEL 56 and PEL 83, about 1.5 billion barrels of discovered resources has been confirmed by the company. The portfolio is anchored by the Venus and Mopane projects.
“Together, what we already have in hand is 1.5 billion barrels of discovered resources, and we see major additional prospects currently being matured,” he added.
The Mopane field, located in PEL 83, is estimated to contain between 800 million and 1.1 billion barrels of recoverable resources.
Planned output is expected to exceed 200,000 BDP once the development is completed. “With a potential FID in 2028, Mopane is the second pillar of our Namibia strategy and will contribute significantly to production beyond 2030,” he stated.
Namibia has emerged as a new frontier for offshore oil exploration following recent discoveries in the Orange Basin. The basin lies along the Atlantic margin and has drawn interest from several international energy companies seeking new reserves.
Why Mopane is central to Total’ Namibia plan
TotalEnergies plans further exploration and appraisal drilling across 2026 and 2027.
The programme includes extension wells and additional appraisal wells aimed at refining the development concept and confirming the scale of the first phase.
The company expects Mopane to benefit from operational links with the nearby Venus project, which is targeting an earlier investment decision and first oil around 2030. Both projects are expected to operate within the same offshore area.
“We want to establish a sustainable multi FPSO hub in Namibia to maximise synergies for the benefit of all stakeholders,” Le Foll explained.
The two fields are projected to ramp up sequentially from 2030. Combined production from Venus and Mopane could reach about 350,000 BDP, with potential for further growth.
For Namibia, the projects represent early steps towards building a domestic oil producing industry.
“They represent the first steps towards establishing a domestic oil industry in the country,” he noted.
Galp deal reshapes control of PEL 83
Meanwhile, TotalEnergies’ asset swap agreement with Galp Energia linked to the Orange Basin is expected to close by mid 2026. The transaction is designed to consolidate the company’s operating position around its main discoveries.
Under the agreement, Total secured a 40% operated interest in PEL 83, which hosts the Mopane discovery.
In exchange, Galp received a 10% interest in PEL 56 and a 9.39% interest in the neighbouring PEL 91 exploration block, along with a carry covering part of its appraisal and early development costs.
Le Foll said the deal forms part of a broader plan to organise the Namibian assets into a coordinated offshore hub supported by shared infrastructure and integrated logistics.
“Together, what we already have in our hands is 1.5 billion barrels of discovered resources forming the basis of a shared deepwater hub built around optimised logistics and economies of scale,” he said.
The strategy signals TotalEnergies’ intention to anchor long term production growth in Namibia as it expands its deepwater portfolio.
