TotalEnergies/ QatarEnergy/ Namcor/ Impact Oil & Gas - Venus Field Development
TotalEnergies EP Namibia B.V. (TEEPNA), QatarEnergy, Namcor, Impact Oil & Gas are planning to undertake the development of Venus Field in Namibia.
The project is located approximately 320 km south-west of Lüderitz in the Northern portion of Block 2913B, in water depths of around 3000 m.
The project is one of Africa's largest oil and gas discoveries in decades, with an estimated 1.5 billion barrels of light crude and 4.8 trillion cubic feet of natural gas. Expected to produce 150,000 barrels per day, the field could operate for 30-40 years.
The project is owned by TotalEnergies (45.25%), QatarEnergy (35.25%), Namcor (10%), and Impact Oil & Gas (9.5%). F
The US$13,000 million project includes the following:
1. Development of an offshore oil field
2. Drilling of 40 subsea wells
3. Installation of equipment on the seabed
4. Installation of Floating Production Storage and Offloading Vessel (FPSO)
5. Installation of subsea infrastructure
6. Construction of associated facilities
Second Section
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24 February 2026
The main contract commercial bids were submitted for the floating production, storage and offloading vessel (FPSO) and currently under evaluation. SBM Offshore have submitted the bids amongst other companies. The final investment decision is expected to be finalized by 2026.
08 December 2025
The feasibility study works are ongoing on the project.
14 May 2025
The project is in the initial stage of development and the final investment decision (FID) is expected to be finalized by the end of 2026.