Energy companies bid for stake in Galp’s Namibia oil discovery

Exxon Mobil, Shell, TotalEnergies, and Equinor are among the major energy companies considering bids for a 40% stake in Galp Energia’s Mopane oil field discovery offshore Namibia. According to Galp Energia’s estimates, the Mopane complex contains 10 billion barrels of oil equivalent (boe) and could be valued at around N$362 billion or more, as reported by Bloomberg. Bloomberg reports that Galp Energia, with the help of a financial advisor, is looking to sell half of its 80% interest in the asset and has called for initial bids by mid-June.