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Exxon, Chevron, Shell and TotalEnergies interested in buying 40% of Galp’s offshore field in Namibia

TOPICS:
Galp

Posted By: The Corner 3rd July 2024

Norbolsa | Many majors are interested in taking a 40% stake in Galp’s major offshore field in Namibia. Among the candidates are Exxon, Chevron, Shell, TotalEnergies, Petrobras, Woodside Energy and Apache Energy.

This field, Mopane, has estimated reserves of 10 billion barrels and could be worth around $10 billion.

Namibia, which lacks oil and gas production, has attracted huge interest from international energy companies in recent years following a series of discoveries by TotalEnergies, Shell and Galp.

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.