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Namibia expects first oil production from TotalEnergies TTEF.PA’s Venus field in 2029/2030, Maggy Shino, the country’s oil commissioner, said on Wednesday.
The southern African country, which has yet to produce oil or gas, has become a global exploration hotspot following offshore discoveries by TotalEnergies and Shell SHEL.L and wants to accelerate the stage of first production.
In the latest strike, Portuguese company Galp Energia GALP.LS said it had found at least 10 billion barrels of oil equivalent in its Mopane field, part of the highly promising but largely unexplored Orange Basin. .
U.S. oil major Chevron CVX.N is expected to begin exploration later this year, with Exxon Mobil XOM.N expected to follow in 2025, Mr. Shino said.
“As for onshore exploration, we are planning a multiple drilling campaign… Reconnaissance Africa has committed to drilling a well this year,” Shino said of a campaign in the ecologically sensitive region of the Okavango.