The National Petroleum Corporation of Namibia (NAMCOR) and its joint venture partners TotalEnergies, QatarEnergy, and Impact Oil and Gas have confirmed that development of the Venus Field remains on schedule, despite the Marula-1X exploration well failing to yield commercially viable results.
The Marula-1X well, located in Block 2913B (PEL 56), was drilled outside the main Venus structure and did not deliver the expected outcomes.
However, NAMCOR Acting Managing Director Victoria Sibeya maintains that the result does not alter the consortium’s plans for the Venus Field.
“While the results of Marula-1X, an exploration well outside Venus main field was not what we had hoped for, our focus remains firmly on the commercial potential of the Venus Field,” Sibeya said.
“The accelerated development of this project is a clear signal of our commitment to Namibia’s energy future.”
She said the Final Investment Decision (FID) for the Venus development remains targeted for early 2026.
Sibeya also confirmed that environmental processes supporting the project are progressing.
“The JV partners have embarked on the Environmental and Social Impact Assessment (ESIA) process to support this development. Stakeholder engagement sessions were successfully conducted between 7 and 30 April 2025 in different locations mainly in the Erongo and Kharas regions, reflecting the JV’s commitment to responsible and transparent development practices,” she said.
The joint venture is currently seeking an Environmental Clearance Certificate (ECC), a requirement for the Venus development.
TotalEnergies EP Namibia B.V. (TEEPNA), the project operator, plans to drill up to 40 subsea wells, with hydrocarbons to be processed via a Floating Production, Storage and Offloading (FPSO) vessel. Oil produced from the field would be exported by tanker, while associated gas is expected to be reinjected into the wells, according to the ECC application.
Development is projected to span five years following the FID, with operations planned to last over two decades.
Discovered in 2022, the Venus Field is considered one of the most significant deep-water oil finds globally in recent years. It is located approximately 300 km from Oranjemund, 320 km from Lüderitz, and 700 km from Walvis Bay, in water depths of around 3,000 metres.
