Venus 1 is seen as paving the way for further projects
Namibia's upstream defies downturn
Large-scale, deepwater prospects continue to draw deep-pocketed investors
Namibia continues to attract fresh E&P activity, particularly from oil majors, in contrast to much of the rest of sub-Saharan Africa. But the recent withdrawal of UK-based producer Serica Energy shows the country has not been entirely shielded from the recent decline in investor appetite. Total continues to advance its sizeable Venus 1 (Block 2913B) prospect off the Namibian coast, where exploratory drilling is due to start in the third quarter of this year, according to minority stakeholder Africa-focused Impact Oil & Gas. Q3 2021 – Venus 1 due to spud Venus 1 is seen as a field which—if successful—could clear the path to development for other Namibian blocks. Canadian firm
Also in this section
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
28 April 2026
Restoring supply from Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Iraq involves complexities far beyond simply adjusting operational controls
28 April 2026
Datacentres will guzzle power at a ferocious rate, but the impact on wider energy markets will be far more complex than previously thought
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
