TotalEnergies announced on Thursday that it had found a large discovery of light oil and associated gas off the coast of Namibia.
The significant discovery in the Venus-X1 well, the second recent offshore discovery for the southern African country with ambitions to become the continent’s newest oil producer, was first relayed two sources to reporters.
Total said that its Venus project in the Orange Basin’s block 2913B had discovered a high-quality reservoir. According to reporters, the discovery is more than 1 billion barrels of oil equivalent, making it the second huge offshore find in a month, following Shell’s announcement.
In a statement, Kevin McLachlan, TotalEnergies’ senior vice president for exploration, said, “This discovery offshore Namibia and the very promising initial results prove the potential of this play in the Orange Basin, on which TotalEnergies owns an important position both in Namibia and South Africa.”
According to McLachlan, a detailed coring and logging program has been completed to aid in the preparations for appraisal operations to assess the discovery’s commercial possibilities.
TotalEnergies, along with QatarEnergy (30%), Impact Oil and Gas (20%), and state-owned NAMCOR, is the operator with a 40% working interest (10 %).
