At least a dozen oil companies including Exxon (NYSE:XOM) and Shell (SHEL) have expressed interest in buying a 40% stake in Galp Energia’s (OTCPK:GLPEF) (OTCPK:GLPEY) Mopane oil discovery offshore Namibia, which could be valued at more than $10B, Reuters reported Tuesday.
In April, Galp (OTCPK:GLPEF) (OTCPK:GLPEY) launched the sale process for half of its 80% stake in Petroleum Exploration License 83, which is estimated to hold at least 10B boe, as well as the right to become its operator.
Chevron (CVX), APA (APA), TotalEnergies (TTE), Petrobras (PBR) and Woodside Energy (WDS) also have signed agreements to access geological data of the field, and some companies have placed indicative, non-binding offers for the stake, according to the report.
Namibia, which has no oil and gas production, has attracted interest from major energy companies in recent years following a string of discoveries by Galp (OTCPK:GLPEF) (OTCPK:GLPEY) and others.
