TotalEnergies and Galp Complete Namibian Offshore Asset Swap
TotalEnergies and Galp have concluded a transaction realigning their participating interests across offshore exploration blocks in Namibia.
Energy companies TotalEnergies and Galp have concluded an asset swap and partnership arrangement that reorganizes their respective acreage positions in offshore Namibia.
The finalized transaction establishes a mutual realignment across several offshore blocks in the southern African country. Under the framework of the deal, France-based TotalEnergies has taken over the operatorship of one designated exploration license.
Portugal's Galp maintains an equity participation in the block transferred to TotalEnergies' operatorship. In exchange, Galp has secured non-operated working interests across two other offshore blocks covered under the transaction.
The agreement settles the operating structure and partner shares between the two energy majors as they manage their exploration portfolios offshore Namibia.
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