Galp Energia SGPS SA has announced it is in advanced talks with several companies to secure a partner for the development of the offshore Mopane field in Namibia. The Portuguese firm expects to reach an agreement by year-end to speed up the field’s production phase, according to statements made by Nuno Bastos, executive board member and head of upstream operations.
Seeking technical and financial support
The company is looking for a partner that can bring technical, logistical, and financial capabilities to accelerate development of the field located off the Namibian coast. “We want a partner for Mopane in Namibia who can accelerate development,” Bastos told reporters, noting that discussions with multiple entities were at an advanced stage without naming any specific companies.
A strategic asset in southern Africa
Mopane is among Galp’s most promising offshore assets outside Brazil, with exploratory drilling confirming the presence of hydrocarbons. The company has increased its activity in the Orange Basin off the Namibian coast, a region that has drawn the interest of several major energy players in recent years.
Brazil’s Bacalhau project supports broader strategy
In parallel, Galp is counting on ramping up output from its Bacalhau oil field in Brazil to support cash flow. The project, currently under development, is expected to generate approximately $400 million annually at peak production. This contribution is seen as critical to maintaining the group’s financial balance while pursuing high-capital-intensity ventures.
