TotalEnergies is on the verge of a decision that could catapult Namibia into the ranks of Africa’s major oil producers. The French energy major has confirmed it expects to reach a Final Investment Decision (FID) on the offshore Venus oil project by mid-2026 — a move that would unlock one of the most consequential energy developments on the continent in decades.
Speaking at the Namibia International Energy Conference in Windhoek, TotalEnergies Senior Vice President for Africa, Mike Sangster, described Venus as technically complex but potentially transformative, with the capacity to stimulate broad economic growth, generate significant employment, and dramatically increase government revenues.
“Large-scale energy projects require long development timelines and depend heavily on trust between governments, investors, and communities,” Sangster said, noting that consistent and open engagement since TotalEnergies began operating in Namibia in 2017 has been central to the project’s progress.
TotalEnergies invests approximately $1 billion annually in new global energy developments, with Africa identified as a core pillar of its long-term strategy. The company is also implementing training and capacity-building programs in Namibia to prepare local workers for the emerging energy sector.
In its latest quarterly update, TotalEnergies reported stable production levels despite global disruptions, with LNG production rising approximately 10% compared to the previous quarter of 2025. If the Venus FID is approved, development activities could begin shortly after, setting Namibia on a trajectory comparable to Guyana’s spectacular oil transformation — a country cited by delegates at the Windhoek conference as the benchmark for what sustained exploration momentum can achieve.
Source: angolanminingoilandgas.com