Estimates of potentially recoverable oil at Namibia’s Mopane offshore field have risen 57 percent to 1.38 billion barrels of oil equivalent (boe) following recent appraisal drilling, Canadian shareholder Sintana Energy said on Tuesday.
The Mopane field, operated by Portuguese energy company Galp under Petroleum Exploration Licence 83 (PEL 83), is part of a broader offshore complex that analysts believe could transform Namibia into a significant new oil producer. Contingent resources, which are technically recoverable but subject to economic and operational contingencies, were previously estimated at 875 million boe, according to Sintana.
“Recent appraisal results underscore the significant resource potential of Mopane and the wider PEL 83 complex offshore Namibia,” Sintana said in a statement on its website. The increase highlights optimism over recoverable volumes should technical, financial, and regulatory hurdles be resolved.
Galp, which operates PEL 83 and holds an 80% stake, declined to comment. Sintana maintains a 4.9 percent indirect stake in the licence. The Mopane discovery is believed to contain at least 10 billion boe in total resources, but contingent resources represent a smaller, recoverable fraction of that total.
The announcement comes amid growing international interest in Namibia’s offshore basins. The country, which currently has no commercial hydrocarbon production, has seen a string of high-profile discoveries since 2022, prompting a wave of investment from global energy majors.
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TotalEnergies, the French oil and gas giant, is acquiring a 40% stake in PEL 83 and is set to assume operatorship ahead of a planned three-well drilling campaign scheduled for the second half of 2026. Sintana said TotalEnergies has identified further upside potential, including an inboard extension of Mopane and two additional large prospects, Quiver and Sobreiro.
A final investment decision is targeted for 2028, with first oil expected in 2032, Sintana noted. The development timeline reflects the scale of the project and the technical and regulatory planning required for deepwater offshore operations.
Other major oil companies, including Chevron, also hold interests in nearby offshore licences, reflecting the growing regional competition for exploration and development rights. Analysts say Namibia’s emerging oil sector could reshape the country’s economic prospects, creating jobs, boosting government revenues, and reducing reliance on imports of refined petroleum products.
The Mopane field’s upgrade in contingent resources could increase investor confidence and attract additional international capital to the region. “The latest results show that Namibia has the potential to become a significant player in the global energy market,” said energy consultant Lars Hoffman. “With major operators like TotalEnergies and Chevron entering the space, development is likely to accelerate in the coming years.”
Namibia’s government has sought to create an investor-friendly regulatory framework to encourage upstream activity while ensuring that resource development benefits the local economy. This includes fiscal incentives, environmental safeguards, and policies to build local capacity in the oil and gas sector.
As oil prices remain volatile due to global geopolitical tensions, discoveries such as Mopane offer African nations the chance to capitalize on high-value resources. Observers note, however, that contingent resources carry uncertainties, and actual production volumes will depend on engineering feasibility, infrastructure development, and market conditions at the time of field development.
With its significant potential reserves and planned multi-year investment programme, Mopane is now one of the flagship projects in Namibia’s nascent hydrocarbon sector. The field is expected to anchor a series of deepwater developments along the Namibian coast, further attracting exploration, drilling, and production activities from international energy companies.
Sintana Energy’s announcement on Tuesday is likely to raise Namibia’s profile among global oil investors and reinforce expectations that the country could become a new frontier for offshore petroleum production in Africa by the early 2030s.
