Shell, Total and Chevron are interested in buying the shares that Galp is offering in its 80% stake in the Mopane oil project off the coast of Namibia, reports the Financial Times (FT).

According to the newspaper, the amount of oil discovered in Namibia "is a good problem for Galp, which is now worth 15 billion dollars", so the Portuguese company may need to reformulate itself.

"Taking it to the market will cost billions of dollars. The company could sell its stake to an international oil company and the candidates include Shell, Total and Chevron, which are also drilling, or planning to drill, in the Orange Basin. Galp's success will attract the interest of larger oil companies which, regardless of climate commitments, will continue to bet on oil," says the newspaper.

The FT anticipates gains for Namibia from Galp's discoveries, despite the fact that the country has already been drilling in its waters for more than a decade. On the other hand, it warns that not all (10 million barrels) will be oil with a high commercial value, "other quantities of low value gas".