Exxon, Shell among oil giants weighing stake in Galp’s Namibia field – Bloomberg
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Exxon Mobil (NYSE:XOM), Shell (SHEL), TotalEnergies (TTE) and Equinor (EQNR) are among major energy companies evaluating bids for a 40% stake in Galp Energia’s (OTCPK:GLPEF) (OTCPK:GLPEY) Mopane oil field discovery offshore Namibia, Bloomberg reported Tuesday.
Based on Galp Energia’s (OTCPK:GLPEF) (OTCPK:GLPEY) “in place” estimates for 10B boe in the Mopane complex, the entire discovery could be worth ~$20B or more, according to the report.
Galp Energia (OTCPK:GLPEF) (OTCPK:GLPEY), which is working with a financial advisor to sell half of its 80% holding in the asset, reportedly has called for first round bids in mid-June.
The Mopane field is located in the Orange Basin, where Shell and TotalEnergies have made several oil and gas discoveries.
Galp Energia (OTCPK:GLPEF) (OTCPK:GLPEY) shares surged after the company said in April that a well test indicated the potential for Mopane to be an important commercial find.
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