09:18 AM EDT, 05/21/2024 (MT Newswires) -- (Updates with additional details.)

Shell (SHEL) and Exxon Mobil ( XOM ) are among the energy companies considering bids for a 40% stake in Galp Energia's Mopane oil field off the coast of Namibia, Bloomberg News reported Tuesday, citing sources with knowledge of the matter.

TotalEnergies (TTE) and Equinor ( EQNR ) are also considering acquiring the stake in the asset, which could be worth around $20 billion, according to the report.

Galp, which owns about 80% stake in the Mopane oil field, is working with a financial adviser and has invited first-round bids in mid-June, Bloomberg said.

Deliberations are ongoing, and Galp may retain the stake if no final agreement is reached, the report added.

Galp, Shell, Equinor ( EQNR ) and TotalEnergies did not immediately respond to MT Newswires' requests for comment, while Exxon could not be reached for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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