NAMCOR and partners accelerate development amid mixed exploration results
The National Petroleum Corporation of Namibia (NAMCOR) and its joint venture partners—Impact Oil and Gas, Qatar Energy, and TotalEnergies—are advancing rapidly toward a Final Investment Decision (FID) for the promising Venus Field in Block 2913B, targeting early 2026 for this crucial milestone.
Environmental and social impact assessments are already underway, with stakeholder engagement sessions successfully conducted throughout April 2025 in the Erongo and Kharas regions, demonstrating the partnership’s commitment to responsible development practices.
However, in a setback to broader exploration efforts, the joint venture reported that drilling at the Marula-1X prospect yielded unsuccessful results. Despite this disappointment, officials emphasized their unwavering focus on the commercial potential of the Venus discovery.
“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,” stated Victoria Sibeya, Acting Managing Director of NAMCOR.
The Venus development continues to reinforce Namibia’s emergence as a globally significant hydrocarbon province, with Block 2913B covering approximately 8,215 square kilometers in water depths up to 3,000 meters. The block is operated by TotalEnergies EP Namibia B.V (50.5% interest), with QatarEnergy holding 30%, NAMCOR 10%, and Impact Oil & Gas Namibia 9.5%.
Source: Namibia Oil and Gas news
