• Mining
Friday, July 18, 2025
Mining and Energy Namibia | Namibia’s Leading Mining & Energy News
NEWSLETTER
No Result
View All Result
  • Diamonds
  • Oil & Gas
  • Uranium
  • Green Hydrogen
  • Gold
  • Lithium
  • Energy
  • Copper
  • Zinc
  • Diamonds
  • Oil & Gas
  • Uranium
  • Green Hydrogen
  • Gold
  • Lithium
  • Energy
  • Copper
  • Zinc
No Result
View All Result
Mining and Energy Namibia | Namibia’s Leading Mining & Energy News
No Result
View All Result
Home Oil & Gas

TotalEnergies eyes billion-barrel target in Namibia’s deepwater probe

editor by editor
October 5, 2024
in Oil & Gas
11 25
A A
0
total ceo 2

TotalEnergies’ CEO Patrick Pouyanne says the company is targeting a significant one billion-barrel resource with its next deepwater well offshore Namibia.

The upcoming Tamboti-1X well is set to be drilled in the northeastern part of Block 2913B, where the company’s massive Venus discovery is located.

“Oh, it’s big. Well, it’s an elephant—a billion-barrel target. But you have to be optimistic, especially when you’re operating in a prolific basin like this. So yes, it’s big,” he said at an investor event.

Also speaking at the event, TotalEnergies’ upstream head Nicolas Terraz noted that Tamboti was de-risked by a well drilled last year on the Mangetti prospect.

The Mangetti-1X well encountered two reservoirs, which are believed to hold 1.5 billion barrels of OIP. The well was also drilled deeper to appraise the northern reach of the Venus discovery.

“Future exploration, today we have a drilling rig on its way to Namibia to drill a prospect called Tamboti, which is north of Venus, which was de-risked by a well-drilled master, a well-called Mangetti,” he said.

TotalEnergies is advancing its exploration and development activities on its Venus oil discovery. Following two successful appraisal wells, the company is evaluating a development plan targeting production of up to 160,000 barrels per day.

The Venus field, discovered in 2022, is estimated to contain significant volumes of light oil and associated gas

“Now, continuing Namibia exploration, the first on Venus we drilled two successful appraisal wells. So we are now progressing the studies on a development of 160,000 barrels per day. There is a material volume of oil, there is also quite a bit of gas that needs to be rejected,” he said.

He further explained that to optimise the project’s economics, the company is refining well placement and the design of the floating production, storage, and offloading vessel, aiming to maintain costs below US$20 per barrel.

The approach aligns with the company’s strategy to ensure investments meet specific financial criteria.

“So today the work of our teams and engineers is to optimise the wells placement, to optimise the SPSO, to ensure that we have a project that is within our investment criteria, particularly with a cost below US$20 per barrel. For all we are planning, of course, to follow the same approach as the Suriname in terms of working with our contractors early,” he said.

author avatar
editor
See Full Bio
Share538Tweet336

Related Posts

First Gentleman named Patron of Namibia Youth Energy Forum
Oil & Gas

First Gentleman named Patron of Namibia Youth Energy Forum

  First Gentleman General Denga Ndaitwah has officially accepted the role of Patron of the Namibia Youth Energy Forum (NYEF),...

July 17, 2025
Oil & Gas

Shell Global VP meets Namibian President on exploration plans

#image_title A delegation from oil major, Shell led by Eugene Okpere, Shell’s Executive Vice President for Exploration Strategy, Portfolio, Integrated...

July 16, 2025

Recommended

TotalEnergies plans 40-well offshore drilling project in Namibia

TotalEnergies plans 40-well offshore drilling project in Namibia

4 months ago
Northern Graphite appoints Namibian Sam Januarie HR VP

Northern Graphite appoints Namibian Sam Januarie HR VP

3 years ago
Load More

Newsletter

Black transparent logo for dark mode

About Us

The Namibia Mining and Energy website is a comprehensive online platform dedicated to showcasing Namibia's mining and energy sectors

Categories

  • Copper
  • Diamonds
  • Energy
  • Gold
  • Green Hydrogen
  • Lithium
  • Mining
  • Namibia
  • News
  • Oil & Gas
  • Opinions
  • Tin
  • Uranium
  • Zinc

Get in touch

Email:newsdesk@miningandenergy.com.na

© 2024 Mining and Energy | All Rights Reserved. The Namibia Mining and Energy website is a comprehensive online platform dedicated to showcasing Namibia's mining and energy sectors.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Diamonds
  • Oil & Gas
  • Uranium
  • Green Hydrogen
  • Gold
  • Lithium
  • Energy
  • Copper
  • Zinc

© 2024 Mining and Energy | All Rights Reserved. The Namibia Mining and Energy website is a comprehensive online platform dedicated to showcasing Namibia's mining and energy sectors.