Upstream in Namibia

Successful completion of the first phase of the exploratory campaign in two wells in Namibia.

In January and March, tests were carried out on the Mopane-1X and Mopane-2X wells respectively, revealing significant oil columns containing light oil. These tests have the potential to position Mopane as an important commercial discovery.

The data collected will be integrated into a reservoir model that will serve as the basis for refining Galp's short-term drilling plan, allowing it to continue to explore, appraise and develop the Mopane complex more comprehensively.

Galp is planning an exploratory well, to be drilled in late 2023 or early 2024.

Nearby oil discoveries in the Graf-1 and Venus-1 wells, drilled by Shell and TotalEnergies respectively, have proven the presence of a functional oil system in the Orange basin, and with PEL 83 being located immediately to the north-northeast of these discoveries, the results could have an impact on the prospectivity of PEL 83.

Therefore, in September 2021, the partners of PEL 83 agreed to enter into the second two-year exploration period with the possibility of being extended for an additional year, until the 2^nd of September 2024.

Analysing the results of the 3D seismic acquisitions of PEL 82 and PEL 83 to identify potential prospects and leads.

PEL 83 consortium successfully completes 3D seismic acquisition campaign, covering an area of 3,000 km², with zero health, safety and environmental incidents, on time and on budget.

Galp delivers the Environmental Impact Assessments for potential drilling campaigns in both oil exploration licences.

PEL 82 consortium successfully completes 3D seismic acquisition campaign, covering an area of 5,000 km².

Galp reaches agreement with the Namibian government to secure oil exploration licences in PEL 82 (previously PEL 23), in the Walvis basin, and PEL 83 (previously PEL 28), in the Orange basin.

Completion of an exploratory campaign, with the drilling of the Wingat and Murombe wells in the Walvis basin and the Moosehead well in the Orange basin.

Although the campaign did not result in any commercial discoveries, the potential for oil offshore Namibia has been proven.

Galp signs a farm-in agreement for the acquisition of a 14% stake in three oil exploration licences located offshore Namibia: PEL 23, in the Walvis basin, PEL 24 and PEL 28, both in the Orange basin.