Namibia's Oil Boom: TotalEnergies & Galp Cement Orange Basin Future

WINDHOEK, Namibia – January 30, 2026 – A high-level meeting between Namibian President Netumbo Nandi-Ndaitwah and the chairmen of European energy giants TotalEnergies and Galp has solidified a long-term strategy to transform the nation into a global energy producer. The talks reinforced a landmark partnership set to accelerate the development of colossal oil and gas discoveries in the offshore Orange Basin, a region now poised to redraw Africa's energy map and fuel Namibia's economic transformation for decades to come.

This pivotal meeting follows a recent agreement that strategically realigns the companies' interests in the basin's most promising assets. TotalEnergies will now take the helm as operator of Petroleum Exploration License (PEL) 83, home to the massive Mopane discoveries, while Galp gains entry into PEL 56 and PEL 91, which host the equally significant Venus discovery. The collaboration signals immense confidence in Namibia's deepwater potential and marks a critical step toward realizing a new energy hub in Southern Africa.

A New Energy Frontier Emerges

The scale of the discoveries in the Orange Basin has catapulted Namibia from a frontier exploration territory to one of the world's most exciting oil and gas hotspots. The basin's geology is drawing favorable comparisons to Brazil's prolific pre-salt Campos Basin, with reserve estimates that are staggering for a new entrant. The Mopane complex alone is estimated to hold approximately 10 billion barrels of oil equivalent, while the Venus discovery is estimated at around 5.1 billion barrels.

With these world-class assets at their core, the partners are moving forward with ambitious development timelines. For the Venus project, the consortium is working to secure all conditions for a potential Final Investment Decision (FID) in 2026, a crucial step that would greenlight billions of dollars in expenditure. At Mopane, an extensive exploration and appraisal campaign of three wells is planned to commence in 2026 to further refine resource estimates and fast-track the project towards development. If these timelines hold, Namibia could see first oil flow as early as 2029 or 2030, with peak production estimates suggesting the country could be producing up to 700,000 barrels per day by the next decade. This output would place Namibia among the world's top oil producers and has already attracted the attention of OPEC, which has signaled interest in the nation potentially joining its Charter of Cooperation once commercial production begins.

“Our partnership with Galp marks an important milestone as Namibia prepares to become an important energy-producing nation,” highlighted Patrick Pouyanné, Chairman and CEO of TotalEnergies, in a statement. “By aligning our strengths across both Venus and Mopane, we are laying the foundation for a new energy hub in the region—one that combines operational excellence, local development and shared prosperity.”

A Strategic Alliance to Unlock Deepwater Riches

The asset swap and reinforced partnership between TotalEnergies and Galp represent a calculated strategic maneuver designed to optimize development, share risk, and leverage specialized expertise. Deepwater exploration is notoriously capital-intensive and technologically complex, and this collaboration allows both companies to consolidate their positions and accelerate progress. By taking operatorship of the Mopane discoveries, TotalEnergies brings its extensive global experience in managing large-scale deepwater projects to one of the basin's largest finds. In turn, Galp's entry into the Venus licenses diversifies its portfolio and gives it a stake in another world-class asset.

This synergy is crucial for navigating the challenges of deepwater development. While optimism in the Orange Basin is high, it is not without its complexities, as illustrated by a recent $400 million write-off by Shell on a portion of its acreage due to concerns over reservoir quality. The TotalEnergies-Galp alliance helps mitigate such risks by pooling technical knowledge and financial resources.

“Solid partnerships are a core pillar of Galp’s growth strategy,” stated Galp’s Chairman, Paula Amorim. “The Mopane discoveries represent a transformational opportunity and partnering with a global footprint deep-water leader like TotalEnergies ensures these resources can be developed efficiently and sustainably for the benefit of Namibia and all stakeholders.”

The financial implications are immense. The Venus project alone is expected to generate over US$2.5 billion in subsea contracts, a figure that only hints at the multi-billion-dollar investments required for the full field development of both Venus and Mopane. This influx of foreign direct investment is expected to be a game-changer for the Namibian economy.

Balancing Black Gold with Local Benefits

As international energy firms map out their development plans, the Namibian government is focused on ensuring that the nation's newfound resource wealth translates into tangible, widespread benefits for its citizens. A key instrument in this effort is the National Upstream Petroleum Local Content Policy, which the Ministry of Mines and Energy is working to finalize. This policy is designed to maximize the participation of Namibian companies, labor, goods, and services across the entire petroleum value chain, from exploration and construction to operations and decommissioning.

The Economic Association of Namibia has underscored the urgency of this framework, cautioning that while the oil sector will drive growth, it must be “transformative” to meaningfully address unemployment and poverty. This requires a proactive approach to building a skilled local workforce and preparing Namibian firms to compete for contracts. The companies have affirmed their commitment to these goals, highlighting their plans to contribute to employment, skills development, and local industry during their meeting with the President.

Simultaneously, Namibia is pursuing a dual energy strategy, balancing its hydrocarbon ambitions with a robust commitment to renewable energy. The nation, which currently relies heavily on imported electricity, aims to generate 80% of its power domestically by 2028, largely through renewables. It is also positioning itself as a future global leader in green hydrogen, with ambitious production targets for export. This forward-thinking approach aims to leverage the revenue from oil and gas to fund a long-term transition towards a more sustainable and energy-independent future, ensuring the country avoids the resource curse that has afflicted other petro-states.

The Road to First Oil: Hurdles and High Stakes

With key project milestones set for 2026, the path to first oil is becoming clearer, but it remains a complex journey. The coming years will be critical for both the government and its corporate partners. For Namibia, the challenge lies in finalizing and effectively implementing its local content policies, building the necessary institutional capacity to manage the sector, and ensuring regulatory processes are efficient enough to support the ambitious development timelines.

For TotalEnergies and Galp, the focus will be on executing their appraisal and development plans safely and efficiently in a challenging deepwater environment while upholding their commitments to responsible operations and local value creation. Both companies have reiterated their dedication to a close working relationship with government institutions to navigate the upcoming project phases.

The stakes for Namibia are incredibly high. The successful development of the Orange Basin's resources promises not just energy independence and export revenues, but a foundational shift in the nation's economic structure. As the exploration and appraisal campaigns advance, all eyes will be on this emerging energy frontier and its potential to deliver a future of shared prosperity for the Namibian people.