TotalEnergies cements Namibia oil position

“TotalEnergies remains fully committed to progressing the development of the discovery and is working to secure all conditions enabling a potential Final Investment Decision (FID),” the French supermajor asserted in early October.Elaborating on Petroleum Exploration Licence (PEL) 56 and the Venus discovery, official company responses to enquiries explained: “As the project is technically ready for a FID (the Field Development Plan has been submitted, the Petroleum Field declaration has been approved…), the company continues to engage on the workstreams required to move the project forward, and is working closely with its partners and the Namibian authorities.” It characterises the well, located in water depths of around 3,000 metres and approximately 320 km offshore Namibia, as “a frontier deep-water development”.Cementing the claimFollowing the completion of its transaction with Galp in September 2026, TotalEnergies is now the operator of Namibia’s two largest oil discoveries. It now holds a 35.25% operated interest in offshore PEL 56, which includes the Venus discovery; a 40% operated interest in PEL 83, which includes the Mopane discovery; a 33.09% operated interest in PEL 91; and has signed agreements to acquire a 42.5% operated interest in PEL 104 in the Lüderitz Basin, “subject to the relevant approvals,” the company said.“Together, these licences position TotalEnergies at the heart of Namibia’s emerging offshore industry and support the development of a major production hub in the Orange Basin,” reads the response compiled by Gabin Poizat, media relations manager at the TotalEnergies press office.Exploring MopaneOn PEL 83, exploration opportunities are already lining up beyond the Mopane development, which TotalEnergies will start to appraise at the end of 2026 through a three-well exploration and appraisal campaign, the supermajor confirmed.“The objective is to further assess the resource base and target a potential FID in 2028. Together, Venus and Mopane open the way for the development of a major production hub, generating long-term value for Namibia and its partners,” said TotalEnergies.The company maintains that it is committed to “developing the country’s deep-water resources responsibly and efficiently while building long-term value for Namibia and its people. Our ambition goes beyond energy production: We want to help lay the foundations of a new energy hub in the region, combining operational excellence, local development and shared prosperity.”Downstream pedigreeTotalEnergies is the reincarnation of a fuel supply entity that has been present in Namibia since 1964 and currently operates 43 service stations across the country. From 1977, as Total South West Africa, and from 1998 as Total Namibia, it became TotalEnergies locally in 2021 and is now the third-largest distributor of petroleum products in Namibia. TotalEnergies launched its liquefied petroleum gas (LPG) distribution operation in 2024.According to the company, its approach prioritises local jobs, local businesses and local skills.“These commitments build on a track record. Since the Venus discovery in 2022, TotalEnergies has operated from Lüderitz and Windhoek, creating more than 216 full-time local jobs directly linked to its operations. The number of Namibian-majority-owned direct suppliers has grown from eight to 62 today. Sixty per cent of our suppliers are Namibian-owned, representing around US$141 million of spend, or 10% of our total spend. Three regions benefit directly: ǁKharas (Lüderitz), Erongo (Walvis Bay) and Khomas (Windhoek),” TotalEnergies said.Venus leads the wayThe Venus project has the potential to create up to 5,000 jobs during construction and operations, the company points out.“We are committed to progressively increasing Namibian participation, with targets of more than 50% local employment for direct jobs by the end of construction and 90% during operations, including in highly skilled and leadership positions,” the answers read.The project could generate around US$2 billion in local spending over its lifetime, according to TotalEnergies.“Our objective is to maximise opportunities for Namibian companies,” the company said.The Venus development is expected to contribute between approximately N$536 billion and N$800 billion to Namibia’s gross domestic product (GDP) over a 25-year period, TotalEnergies points out.“The project would also leave lasting assets in Namibia. By operating from Lüderitz and Walvis Bay, Venus will strengthen port and logistics infrastructure (around 130 port calls are expected during construction alone), develop the capabilities of local SMEs, and pave the way for further developments such as Mopane, reinforcing investor confidence in the country,” said TotalEnergies.Skills and knowledgeAddressing skills development and knowledge transfer, the company points to the Venus Academy. Its central campus has partnerships with vocational training centres as it seeks to become a world-class training centre for Namibia’s offshore industry, says TotalEnergies.It states the ambition to train around 1,000 Namibians per year.Apart from PETROFUND scholarships, courses at UNAM and sponsoring four master’s degrees at the IFP School, the French Petroleum Institute graduate school, TotalEnergies is also renovating Lüderitz Secondary School, supporting drought-relief programmes and subsidising air connections between Windhoek and Lüderitz that benefit more than 9,000 passengers, along with first-aid training programmes for local communities.

TotalEnergies cements Namibia oil position

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