Venus project to operate for over 25 years, creates 5 800 induced jobs

Namibia’s Venus offshore oil field, discovered in 2022 by TotalEnergies EP Namibia and its joint venture partners Impact Oil and Gas, Namcor and QatarEnergy, is designed to operate for more than 25 years, according to the Environmental and Social Impact Assessment (ESIA) report released on 3 November 2025 by SLR Environmental Consulting (Namibia).The report details the full scope of the project, from drilling and production to spill-risk modelling and eventual decommissioning, portraying it as one of the most technically ambitious and economically significant energy developments in southern Africa.If a Final Investment Decision (FID) is approved in 2026, drilling would begin roughly 18 months later, with up to 40 subsea wells, 20 for oil production and 20 for gas injection, located 300 kilometres off Oranjemund in water depths of about 3 000 metres. Oil will be extracted and processed aboard a Floating Production, Storage and Offloading (FPSO) vessel.Production is expected to last for 21 years, with an additional 10 years possible depending on reservoir performance.During construction, the project is estimated to create 500 direct, 2 000 indirect, and 2 500 induced jobs. Once production begins, the report forecasts 600 direct, 600 indirect, and 5 800 induced jobs, primarily in logistics, engineering and support services operating out of Lüderitz and Walvis Bay.Potential incidentsThe ESIA identifies and quantifies potential unplanned events. The most severe would be a significant well blowout, potentially releasing oil from the seabed for up to 13 days. Modelling shows the oil would drift northwest, away from the Namibian coast, affecting less than 0.13% of the large pelagic longline fishery at a 90% likelihood, and up to 15% at a 1% likelihood. No oil is predicted to reach shore.Other potential incidents include a gas injection line rupture, releasing up to 267 000 cubic metres of gas at once, with post-mitigation impact rated very low; a diesel spill offshore, affecting up to 1.4% of pelagic longline fisheries; and a hydrocarbon spill nearshore, with up to 1 000 cubic metres of oil or 300 cubic metres of diesel drifting to the coast within two hours, spreading 263 kilometres north and 26 kilometres south of Walvis Bay.While this event is rated very high in environmental impact and high for fisheries and livelihoods, the report stresses that prevention and containment systems will comply with MARPOL standards, and a Tiered Oil Spill Contingency Plan (OSCP) will be developed before operations begin.The ESIA concludes that the Venus Project is consistent with Namibia’s Sixth National Development Plan (NDP6), which promotes petroleum as a catalyst for industrialisation and fiscal diversification. It argues that Namibia’s participation in global energy markets supports both economic growth and energy security, while the project’s greenhouse gas emissions, rated medium-high under the EBRD’s criteria, will be managed through an Energy and Carbon Management Plan. Post-mitigation, all negative impacts under normal operations are classified as low to negligible significance.Mitigation measures and benefitsSocioeconomic benefits including contributions to GDP, exports, and government revenue, were rated highly positive. The report concludes that with appropriate safeguards and mitigation measures, the proposed Venus Offshore Development is environmentally acceptable and beneficial.At the end of production, a decommissioning trust fund will be established once 50% of the recoverable reserves have been extracted. The FPSO will be towed for recycling, subsea networks flushed and cleaned, and wellheads sealed.Decommissioning is expected to take about 1.5 years, guided by a Net Environmental Benefit Analysis (NEBA).The joint venture also commits to skills development, pledging N$6 million annually to PETROFUND scholarships, supporting UNAM curricula in petroleum engineering, and funding youth and drought-relief initiatives in the //Kharas Region.The ESIA process remains open for public review until 3 December 2025, with hard copies available in Windhoek, Lüderitz, Walvis Bay, Swakopmund, Keetmanshoop, Oranjemund and Bethanie. Online comments can be submitted via SLR Consulting..

Venus project to operate for over 25 years, creates 5 800 induced jobs

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Republikein 2025-11-04

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Venus project to operate for over 25 years, creates 5 800 induced jobs

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