• Galp completed a Namibia asset swap with TotalEnergies, transferring operatorship in PEL 83 for stakes in PEL 56 and PEL 91.
• Retains 40% non-operated PEL 83 exposure to the Mopane discovery; TotalEnergies holds 40% and operates the license.
• Takes 10% in PEL 56, which includes the Venus discovery; takes 9.39% in PEL 91.
• Deal activates a carry covering 50% of Galp’s investments for a first Mopane development.
• Partners align on Venus development work toward FID; Mopane exploration and appraisal drilling targeted for Q4.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Galp Energia SGPS SA published the original content used to generate this news brief on September 03, 2026, and is solely responsible for the information contained therein.