TotalEnergies is targeting production of as much as 180,000 barrels per day (bpd) in the first phase of its Venus project offshore Namibia, targeting late 2025.
According to Upstream, Venus is currently estimated to hold about 2 billion barrels of recoverable oil. Chief Executive Patrick Pouyanne has previously emphasized that its development will be phased, necessitating multiple floating production, storage, and offloading vessels.
“We recently completed a positive appraisal well on Venus and are aiming for a final investment decision by the end of 2025. We anticipate a development with a production range of 150,000 to 180,000 bpd,” Pouyanne informed analysts.
The Venus discovery comprises a light oil and associated gas field, situated approximately 290 kilometers off the coast of Namibia, in water depths of around 3,000 meters.
Block 2913B covers approximately 8,215 km² offshore Namibia, with TotalEnergies as the operator holding a 40% working interest.
QatarEnergy holds 30%, Africa Oil’s Impact Oil and Gas holds 20%, and the National Petroleum Corporation of Namibia (Namcor) holds 10%.
The ultra-deepwater Venus-1X exploration well, drilled to a total depth of 6,296 meters, was initiated at the beginning of December 2021, utilizing the Maersk Voyager drillship.
