French energy company TotalEnergies SE has taken the lead in acquiring a 40% stake in Galp Energia SGPS SA’s significant offshore oil discovery in Namibia’s Mopane field, sources familiar with the matter said.

The stake is part of Galp’s plan to divest from its Namibian operations, attracting interest from several major international oil companies. According to the sources, TotalEnergies has outpaced its competitors in ongoing negotiations, though the discussions remain confidential.

The Mopane field is considered one of Namibia’s major oil finds, and the sale represents a strategic opportunity for TotalEnergies to strengthen its presence in southern Africa’s energy sector. Details on the financial terms of the deal have not been disclosed.

This move comes amid a broader global push by oil companies to secure high-quality upstream assets, even as the energy market faces volatile prices and shifting demand patterns.

Observers note that the acquisition could enhance TotalEnergies’ portfolio and position it competitively in the region, giving the French giant access to new production opportunities in an emerging oil hub.