TotalEnergies has completed the acquisition of a 40% operated interest in Petroleum Exploration Licence 83 (PEL 83) offshore Namibia, according to a statement from Sintana Energy Inc.
The license, located in the Orange Basin, includes the Mopane oil discoveries with a current 3C resource estimate of approximately 1.3 billion barrels of oil equivalent. TotalEnergies now holds the largest stake in the joint venture, alongside Galp Energias with 40%, NAMCOR with 10%, and Custos Energy with 10%.
Sintana Energy maintains an indirect 49% interest in Custos Energy, giving it an effective 4.9% indirect stake in PEL 83. The French major will operate the license, replacing Custos Energy as operator.
TotalEnergies plans to launch a three-well exploration and appraisal campaign in the fourth quarter of 2026. A final investment decision for a potential phase 1 development is targeted for 2028, with first oil production expected by 2032.
Sintana Energy holds interests in eight licenses across Namibia and Uruguay, with additional pending indirect interests in licenses in Namibia and Angola. The company described TotalEnergies’ entry into PEL 83 as a defining milestone for the Mopane project, the joint venture, and Sintana itself.
