Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
TotalEnergies SE ( (FR:TTE) ) has shared an update.
TotalEnergies has entered into an agreement with Galp Energia to acquire a 40% operated interest in the PEL83 license, which includes the Mopane discovery in Namibia, while Galp will acquire interests in PEL56 and PEL91. This strategic move positions TotalEnergies as the operator of the two largest oil discoveries in Namibia, potentially establishing a major production hub that could generate long-term value for the country and its partners. The transaction is subject to approvals and is expected to be completed by 2026, with exploration and appraisal campaigns planned to further develop these discoveries.
More about TotalEnergies SE
TotalEnergies is a global integrated energy company involved in the production and marketing of various forms of energy, including oil, biofuels, natural gas, biogas, low-carbon hydrogen, renewables, and electricity. The company operates in approximately 120 countries and emphasizes sustainability in its strategy and operations. In Namibia, TotalEnergies has been active since 1964, is the fourth largest fuel distributor, and is exploring opportunities for low carbon projects.
See more insights into TTE stock on TipRanks’ Stock Analysis page.