TotalEnergies EP Namibia B.V. (TEEPNA) and its joint venture partners—Impact Oil & Gas, NAMCOR, and QatarEnergy—have unveiled plans to drill up to 40 subsea wells on the Venus Field offshore Namibia. This ambitious project will process and store hydrocarbons on a Floating Production, Storage, and Offloading (FPSO) vessel, with the produced oil being transferred to tankers for export while associated gas will be reinjected into the wells.
The company is currently seeking an Environmental Clearance Certificate from the Ministry of Environment, Forestry and Tourism, a necessary prerequisite for the project’s approval. The development, which includes subsea drilling and the installation of offshore production facilities, is expected to take five years following a Final Investment Decision before production begins. CEO Patrick Pouyanné announced in February that this decision has been pushed back to 2026 from its original late-2025 timeline.
Discovered in 2022, the Venus Field is located approximately 300 kilometers from Oranjemund, 320 kilometers from Lüderitz, and 700 kilometers from Walvis Bay in waters around 3,000 meters deep. The field’s production capacity projection has been slightly revised from the original 160,000 barrels per day to 150,000 barrels per day, according to updated projections from October. The project is anticipated to have an operational lifespan exceeding 20 years, making it a significant long-term asset for Namibia’s emerging oil industry.
Source: miningandenergy.com.na
