NAMCOR targets early 2026 FID for Venus field development

WINDHOEK, May 8, 2025 – The National Petroleum Corporation of Namibia (NAMCOR) and its joint venture partners TotalEnergies, QatarEnergy and Impact Oil and Gas are progressing with the development of the Venus field in Block 2913B, with a final investment decision targeted for early 2026, the company said on Friday.

The consortium has launched the environmental and social impact assessment process to support the development, with stakeholder engagement sessions conducted between 7 and 30 April 2025 across the Erongo and Kharas regions.

“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. The accelerated development of this project is a clear signal of our commitment to Namibia’s energy future,” acting managing director Victoria Sibeya said.

Block 2913B, covered by PEL 56, lies offshore southern Namibia and spans around 8,215 square kilometres in water depths of up to 3,000 metres. TotalEnergies EP Namibia operates the block with a 50.5% stake, while QatarEnergy holds 30%, NAMCOR 10% and Impact Oil and Gas 9.5%.

Adjacent Block 2912, under PEL 91, covers 7,884 square kilometres in water depths of 3,000 to 3,900 metres. TotalEnergies holds 47.2%, QatarEnergy 28.3%, NAMCOR 15% and Impact Oil and Gas 9.5%.

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