Post #345

Sticky French Hug💦 France’s TotalEnergies is encircling Southern Africa with its assets 🌐TotalEnergies has taken control of Mopane, supposedly the largest oilfield in Namibia and potentially in Africa. The company now operates Namibia's two main oil projects — the Mopane and Venus offshore fields. Mopane is a relatively recent oil discovery (2023), located offshore Namibia near the Venus discoveries. Mopane’s potential is estimated at tens of billions of barrels — if these estimates are confirmed, Mopane will become the largest undeveloped oil cluster in Africa. The field is owned by TotalEnergies (40% and operator of all activities), the Portuguese company Galp (40%), the National Petroleum Company of Namibia (10%) and a local company Custos Energy (10%). 🌍 On the opposite side of the southern part of the continent, the same TotalEnergies leads Mozambique LNG — a gas project in Cabo Delgado that sits at the center of the Mozambican government’s gas dreams. 👑 All these projects, both in Mozambique and in Namibia (which so far has no oil production of its own btw), remain at an early stage. If the French manage to bring them to fruition, one could say that TotalEnergies will effectively have all major fossil-fuel deposits of Southern Africa at its disposal. ➡️ Follow to stay informed - @devilsbelow