TotalEnergies, Galp swap Namibian offshore stakes; TotalEnergies takes operatorship

TotalEnergies and Galp closed an asset swap across Namibian offshore blocks, with TotalEnergies assuming operatorship of one license while Galp retains a stake and gains interests in two others. The deal reshuffles upstream positions in a frontier basin with significant oil discoveries, signaling continued consolidation and strategic realignment among international oil companies in Namibia.