What's Happening?
TotalEnergies and Galp have reaffirmed their commitment to advancing offshore projects in Namibia's Orange basin. Following a high-level meeting with Namibian President Netumbo Nandi-Ndaitwah, the companies outlined development timelines for the Venus
and Mopane discoveries. TotalEnergies will become the operator of Petroleum Exploration License 83, while Galp will take interests in PEL 56 and PEL 91. Planning is underway for a potential final investment decision on the Venus project in 2026, with an exploration and appraisal program scheduled for Mopane.
Why It's Important?
The commitment of TotalEnergies and Galp to Namibia's offshore projects underscores the strategic importance of the Orange basin as a key area for deepwater exploration. The basin has become one of the most active exploration areas globally, attracting significant international interest. The development of these projects could enhance Namibia's position in the global energy market and contribute to local economic growth through employment and skills development. The projects also highlight the ongoing interest in offshore oil exploration despite global shifts towards renewable energy.
What's Next?
TotalEnergies and Galp will continue to work with the Namibian government to advance the Venus and Mopane projects. The companies will focus on securing regulatory approvals and finalizing project readiness to support investment decisions. The success of these projects could lead to further exploration and development activities in the Orange basin, potentially attracting additional international operators. The projects' progress will be closely watched by industry stakeholders and could influence future investment decisions in the region.
