TotalEnergies Takes Control of Namibia's Oil Discoveries

TotalEnergies takes over Namibias Mopane and Venus oil discoveries, strengthening its position in the Orange Basin. The French energy giant acquires a 40% interest in Mopane and receives a 10% interest in Venus, along with a 9.39% interest in another block. TotalEnergies will cover 50% of Galps initial spending, aiming to drill three wells over the next two years. The deal focuses on efficient development, not exploration, with a final investment decision for Venus expected in 2026.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.