PLMJ advises Galp on strategic partnership with TotalEnergies in Namibia

PLMJ was part of the legal team that advised Galp on concluding a strategic partnership with TotalEnergies for oil exploration in Namibia.

As part of the agreement, the two oil companies agreed to exchange assets, including the sale of a 40% stake in PEL 83 — which includes the Mopane complex — to TotalEnergies. In turn, Galp will acquire interests in PEL 56 and 91, which are currently owned by TotalEnergies.

TotalEnergies will also assume 50% of Galp’s initial exploration costs in Mopane, Namibia, to be paid by Galp later using future revenues from commercial oil production.

Diogo Perestrelo, partner and co-head of PLMJ's Corporate M&A practice, led the team, which also included André Figueiredo, partner in the Banking, Finance and Capital Markets practice; Rúben Brigolas, international partner; and Nuno Morgado Pereira, managing associate.