TotalEnergies has indicated that the Venus oil project is expected to commence by mid-year, and is currently in the technical development phase.

The Vice President of TotalEnergies, Mike Sangster, made the announcement when he paid a courtesy visit to President Netumbo Nandi-Ndaitwah at state house.

The Venus oil project in Namibia is a deepwater offshore development led by TotalEnergies in the Orange Basin about 300-kilometers off the Namibian coast. 

During the construction Phase the Project is expected to create about five-thousand direct and indirect jobs.

Mike Sangster, Vice President of Total Energies said:

“Our teams have been working very hard on technical development. So now between ourselves and all the different contracting companies that would be part of the project, I think we now have a project which is technically robust. 

“So I really wanted just to give the President an update on where we were and I'm sure that we're still working hard to be in a position to take a final investment decision in 2026 on the Venus development. Which you know is a very complex development, it's in 3000 meters of water depth, it's 320 kilometers from the coastline, it's very complex, met the ocean conditions so it's a technical challenge, but one that we're ready to take on.”

The Head of State, while thanking TotalEnergies for its support in the oil and gas sector, emphasized the need for Namibians to better understand developments in the industry.

“The support that you are giving to it is really supporting such initiative, which are very critical for us at this stage. As we need as many Namibians as possible to understand what is happening,” she said.

The energy companies representatives are attending the International Energy Conference in Windhoek.