TotalEnergies advances plans for massive Namibian Venus field amid offshore boom
In a major development for Africa’s emerging energy landscape, French oil giant TotalEnergies and its partners are rapidly advancing the development of the mammoth Venus oil discovery off Namibia’s coast.
The National Petroleum Corporation of Namibia (NAMCOR) confirmed that all joint venture partners – including Impact Oil and Gas, QatarEnergy, and operator TotalEnergies – remain firmly committed to bringing this massive offshore field to production despite recent exploration setbacks.
While the latest Marula-1X exploration well came up dry, this hasn’t dampened enthusiasm for the Venus field’s commercial potential. The partners are targeting a final investment decision by early 2026, with environmental impact assessments already underway.
“While the results of Marula-1X were 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,” said Victoria Sibeya, Acting Managing Director of NAMCOR.
Stakeholder engagement sessions were successfully conducted in April 2025 across Namibia’s Erongo and Kharas regions, reflecting the commitment to transparent development practices as the nation positions itself as a globally significant emerging hydrocarbon province.
Source: offshore-energy.biz
