The National Petroleum Corporation of Namibia (NAMCOR), TotalEnergies, QatarEnergy, and Impact Oil and Gas are accelerating progress towards a Final Investment Decision (FID) targeted for early 2026.
The joint venture partners developing the significant Venus oil discovery offshore confirmed that development activities for the Venus Field in Block 2913B (PEL 56) are advancing at an increased pace. Despite an unsuccessful outcome on a separate exploration prospect, Marula-1X, located outside the main Venus field area, this comes.
As part of the accelerated development timeline, the joint venture has commenced the Environmental and Social Impact Assessment (ESIA) process. Stakeholder engagement sessions related to the ESIA were successfully conducted between 7th and 30th April, primarily in the Erongo and Kharas regions, indicating a commitment to responsible development practices.
Victoria Sibeya, Acting Managing Director of NAMCOR, addressed the exploration setback, stating, “While the results of Marula-1X, an exploration well outside Venus’ main field, 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.”
The continued advancement of the Venus Field underscores the partners’ confidence in the commercial viability of the discovery.
Block 2913B (PEL 56) is located offshore southern Namibia, covering approximately 8,215 square kilometres in water depths up to 3,000 meters. TotalEnergies EP Namibia B.V. operates the block with a 50.5% interest, QatarEnergy holds 30%, NAMCOR holds 10%, and Impact Oil & Gas Namibia holds 9.5%.
