TotalEnergies Targets 2030 First Oil for Namibia's Venus Project
French energy giant TotalEnergies is advancing its Venus deepwater oil discovery in Namibia's Orange Basin, targeting first oil production by 2030. The project, located in Block 2913B, is expected to recover approximately 750 million barrels with a planned capacity of 150,000 barrels per day. TotalEnergies, holding a 50.5% interest alongside partners QatarEnergy, NAMCOR, and Impact Oil & Gas, has finalized front-end engineering and design (FEED) and submitted a field development plan for regulatory review. A final investment decision is anticipated by the end of 2026, contingent on fiscal and environmental approvals. To support this major offshore development, the Namibian government is enhancing port infrastructure at Lüderitz and Walvis Bay and refining its policy framework, including local content regulations. The project aims to maintain low upstream emissions through measures like associated gas reinjection. This initiative represents a significant milestone for Namibia’s emerging offshore energy sector, positioning the Venus discovery as the anchor for the country’s first deepwater oil development.
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