The Namibian government, through the Upstream Petroleum Unit in the Presidency, has clarified that it has not offered TotalEnergies any incentives for the development of the Venus oil field.
According to the unit, engagements between the Namibian government and TotalEnergies on this matter are yet to be initiated
“The government has never confirmed it would provide financial incentives for any company or project,” the Unit said.
“The Namibian Government will explore the best options that are in the interest of the Namibian people, in a manner that also attracts investment.”
The Unit also said any discussions around financing mechanisms have focused on addressing challenges faced by local businesses, rather than underwriting major oil projects.
