TotalEnergies EP Namibia B.V. (TEEPNA) and its joint venture partners Impact Oil & Gas, NAMCOR, and QatarEnergy plan to drill up to 40 subsea wells on the Venus Field offshore Namibia, with hydrocarbons to be processed and stored on a Floating Production, Storage, and Offloading (FPSO) vessel.
TEEPNA is applying for an Environmental Clearance Certificate (ECC) to develop the Venus Field within Block 2913B and produce crude light oil. As part of this process, consultants have been appointed to conduct an Environmental and Social Impact Assessment (ESIA).
Before the development can proceed, the joint venture must obtain an ECC from the Ministry of Environment, Forestry and Tourism (MEFT). An ESIA is a prerequisite for the approval of the certificate.
According to documents seen by Namibia Mining & Energy, the produced oil will be transferred to tankers for export, while the associated gas will be reinjected into the wells.
The development, which includes subsea drilling and the installation of offshore production facilities, is expected to take five years following a Final Investment Decision (FID) before production begins. The project is anticipated to have a lifespan of over 20 years.
Discovered in 2022, the Venus Field is located approximately 300 km from Oranjemund, 320 km from Lüderitz, and 700 km from Walvis Bay in deep water, around 3,000 metres below sea level.
This comes after French oil giant TotalEnergies pushed back its FID on its major offshore oil discovery in Namibia to 2026, CEO Patrick Pouyanné announced in February. The FID was initially expected by the end of 2025, as stated by Pouyanné during an April earnings call.
The Venus oilfield, which was originally projected to reach a production capacity of 160,000 barrels per day, is now targeting 150,000 barrels per day, according to revised projections from the company’s investor day in October.
TotalEnergies EP Namibia B.V. (TEEPNA) holds two exploration licences for Blocks 2912 and 2913B.
