Oil majors are leading development in Namibia
Namibia’s prospects gain momentum
The Venus field could prove a game-changer for the country
Activity is gathering pace both onshore and offshore in Namibia—one of sub-Saharan Africa’s most promising and least developed upstream frontiers—with the highly significant Venus project leading the way. The long-awaited Venus-1X offshore exploratory well finally spudded at the start of December. TotalEnergies operates the Venus field with a 40pc stake in the wider block 2913B, while state-owned QatarEnergy holds 30pc, London-based independent Impact Oil and Gas has 20pc and Namibian state oil company Namcor has 10pc. Venus’ progress is being watched with particular interest by the wider industry. The field “is a world-class, basin-opening well which, if successful, could be transformative
Also in this section
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation
