TotalEnergies and Partners Advancing Giant Oil Discovery in Namibia’s Orange Basin

France-headquartered energy giant TotalEnergies, along with its joint venture partners, is making significant progress in the development of a massive oil discovery in the Orange Basin off the coast of Namibia.

The development of the Venus field has been confirmed by TotalEnergies’ partner, the National Petroleum Corporation of Namibia (NAMCOR), with joint venture partners Impact Oil and Gas, QatarEnergy, and the operator showing strong commitment to advancing the project in Block 2913B within petroleum exploration license 56 (PEL 56).

After the successful Venus-1 discovery that revealed a working light oil system offshore Namibia, TotalEnergies increased its drilling activities, with the most recent prospect being Marula-1X within the southern part of Block 2913B, although this exploration well did not yield any hydrocarbons.

Block 2913B covers approximately 8,215 square kilometers in water depths of up to 3,000 meters, with TotalEnergies EP Namibia holding a 50.5% interest, QatarEnergy with 30%, NAMCOR with 10%, and Impact Oil & Gas Namibia holding a 9.5% stake in PEL 56.

Victoria Sibeya, Acting Managing Director of NAMCOR, stated, “While the results of Marula-1X were not as expected, our focus remains on the commercial potential of the Venus field. The accelerated development of this project demonstrates our commitment to Namibia’s energy future.”

Progress on the Venus field development is moving swiftly, with the final investment decision (FID) targeted for early 2026. The joint venture partners have initiated the environmental and social impact assessment (ESIA) process to support the project.

Stakeholder engagement sessions were conducted between April 7-30, 2025, in various locations, including the Erongo and Kharas regions, showcasing the JV’s dedication to responsible and transparent development practices.

NAMCOR emphasized, “This progress underscores the partners’ confidence in the Venus discovery and its commercial potential, solidifying Namibia’s position as a globally significant emerging hydrocarbon province.”

Adjacent to PEL 56, Block 2912 covers around 7,884 square kilometers in water depths between 3,000 and 3,900 meters offshore southern Namibia. TotalEnergies holds a 47.2% stake, QatarEnergy with 28.3%, NAMCOR with 15%, and Impact Oil and Gas Namibia with a 9.5% stake in this block.