PLMJ Advises Galp on Strategic Partnership with TotalEnergies for Namibia Oil Exploration

"PLMJ advised Galp on a strategic partnership with TotalEnergies to explore oil in Namibia. The transaction includes an asset swap — TotalEnergies will buy 40% of PEL 83 (the Mopane complex) while Galp acquires interests in PEL 56 and PEL 91 — and TotalEnergies will assume 50% of Galp’s initial Mopane exploration costs, repayable from future production revenues."

PLMJ advised Galp in relation to a strategic partnership with TotalEnergies for oil exploration activities in Namibia. Under the agreement, the two companies agreed an exchange of assets. TotalEnergies will acquire a 40% stake in PEL 83, which includes the Mopane complex. In return, Galp will acquire interests in PEL 56 and PEL 91 currently held by TotalEnergies. TotalEnergies will also assume 50% of Galp’s initial exploration costs in the Mopane project; those costs are to be paid by Galp at a later date using revenues from any future commercial oil production. PLMJ represented Galp with a team composed by: Diogo Perestrelo (partner and co-head of the corporate M&A practice); André Figueiredo (partner, banking, finance and capital markets practice); Rúben Brigolas (international partner); and Nuno Morgado Pereira (managing associate).

PLMJ Advises Galp on Strategic Partnership with TotalEnergies for Namibia Oil Exploration

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