Venus 1 is seen as paving the way for further projects
Namibia's upstream defies downturn
Large-scale, deepwater prospects continue to draw deep-pocketed investors
Namibia continues to attract fresh E&P activity, particularly from oil majors, in contrast to much of the rest of sub-Saharan Africa. But the recent withdrawal of UK-based producer Serica Energy shows the country has not been entirely shielded from the recent decline in investor appetite. Total continues to advance its sizeable Venus 1 (Block 2913B) prospect off the Namibian coast, where exploratory drilling is due to start in the third quarter of this year, according to minority stakeholder Africa-focused Impact Oil & Gas. Q3 2021 – Venus 1 due to spud Venus 1 is seen as a field which—if successful—could clear the path to development for other Namibian blocks. Canadian firm
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