Venus rising on Namibia’s offshore horizon as TotalEnergies progresses oil field development

France-headquartered energy giant TotalEnergies and its joint venture (JV) partners are making inroads in the development of a giant oil discovery in the Orange Basin off the coast of Namibia. 

The advancement of the Venus field development has been confirmed by the French oil major’s partner, the National Petroleum Corporation of Namibia (NAMCOR), which claims that all JV partners, including Impact Oil and Gas, QatarEnergy, and the operator, remain committed to finding a path to develop this oil field in Block 2913B within the petroleum exploration license 56 (PEL 56).

Following TotalEnergies’ Venus-1 discovery, which proved a working light oil system offshore Namibia, together with other discoveries that sprang up in its wake, the firm upped its drilling activities, with the latest prospect being Marula-1X within the southern part of Block 2913B. However, the latest exploration well did not yield any hydrocarbons.

Located offshore southern Namibia, Block 2913B covers approximately 8,215 square kilometers in water depths up to 3,000 meters. PEL 56 is operated by TotalEnergies EP Namibia, which has a 50.5% interest, while QatarEnergy holds a 30% stake, NAMCOR a 10.0% interest, and Impact Oil & Gas Namibia holds a 9.5% stake.

Victoria Sibeya, Acting Managing Director of NAMCOR, remarked: “While the results of Marula-1X, an exploration well outside Venus main field was not what we had hoped for, our focus remains firmly on the commercial potential of the Venus field. The accelerated development of this project is a clear signal of our commitment to Namibia’s energy future.”

According to NAMCOR, progress is being made on the Venus field development at an accelerated pace, with the final investment decision (FID) targeted in early 2026. As a result, the JV partners have embarked on the environmental and social impact assessment (ESIA) process to support this development.

The Namibian NOC underlines that stakeholder engagement sessions were successfully conducted between April 7-30, 2025, in different locations, mainly in the Erongo and Kharas regions, said to reflect the JV’s commitment to responsible and transparent development practices.

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

Covering around 7,884 square kilometers in water depths between 3,000 and 3,900 meters offshore southern Namibia, Block 2912 lies adjacent to but outboard of PEL 56, which is operated by TotalEnergies with a 47.2% stake, while QatarEnergy holds a 28.3% interest, NAMCOR a 15% interest, and Impact Oil and Gas Namibia a 9.5% stake.