TotalEnergies has confirmed that it is working towards a final investment decision on its Venus offshore oil discovery in Namibia during 2026, marking a significant step in the possible emergence of a new energy producing province in southern Africa. The announcement followed a meeting in Windhoek between senior executives from TotalEnergies and its partner Galp and Namibia’s President Netumbo Nandi Ndaitwah.
The Venus discovery, located in deep water in the Orange Basin off Namibia’s southern coast, was announced in December 2021 and is regarded as one of the largest offshore finds in sub Saharan Africa. Estimates indicate that the field may contain between two and three billion barrels of recoverable light oil, alongside associated gas. TotalEnergies has stated that a development concept for Venus is now well defined and that partners are focused on securing the technical, regulatory and commercial conditions required for an investment decision.
In a statement issued on 30 January, TotalEnergies said that discussions with the Namibian head of state focused on progress at Venus and at Mopane, another offshore discovery in the same basin. Mopane is expected to enter a new phase of exploration and appraisal, with a three well drilling campaign planned for 2026 to better assess the scale and development potential of the resources.
The meeting also followed a recent agreement reshaping cooperation between TotalEnergies and Galp across several offshore licences. Under the arrangement, TotalEnergies will become operator of Petroleum Exploration Licence 83, which hosts the Mopane discoveries, while Galp will take positions in PEL 56 and PEL 91, where Venus is located. The companies have described this alignment as a way to combine technical expertise and financial capacity across neighbouring assets.
Patrick Pouyanné, chairman and chief executive of TotalEnergies, said the company viewed Namibia as a long term partner and emphasised the importance of responsible development, local value creation and collaboration with national institutions. Galp’s chair, Paula Amorim, described the Mopane discoveries as potentially transformational and said the partnership aimed to ensure that development benefits were shared with Namibia and other stakeholders.
For Namibia, the progress at Venus and Mopane comes as the country weighs the opportunities and challenges associated with large scale offshore hydrocarbons. Government officials have consistently highlighted the need to balance investment, environmental stewardship and socio economic development, particularly in a region where expectations of growth coexist with concerns about inequality and climate vulnerability. The Orange Basin discoveries also sit within a broader African context, where several coastal states are seeking to assert greater agency over how natural resources are developed and integrated into national development strategies.
Pouyanné’s visit to Namibia followed his presence in Mozambique, where construction was relaunched on a major liquefied natural gas project. Together, these developments underline the strategic importance of southern Africa within global energy markets, while also raising questions about how African countries can shape outcomes in ways that reflect local priorities and long term resilience.
If approved, the Venus project would represent Namibia’s first major oil development and could position the country as a new offshore producer. Whether and how this potential is realised will depend not only on corporate decisions but also on continued dialogue between companies, communities and the Namibian state.
