TotalEnergies has made a significant discovery of light oil on the Venus field offshore southern Namibia, the French integrated energy company announced today.
The company encountered 84 metres of net oil pay in high quality Lower Cretaceous reservoir.
TotalEnergies operates the block with a 40% share, with QatarEnergy holding a 30% stake, Impact Oil & Gas holding a 20% stake and National Petroleum Corporation of Namibia holding the remaining 10% stake.
Pre-drill estimates indicate the find could contain around 1.5 billion barrels of oil.
Source:TotalEnergies makes Namibia discovery – The Energy Year