The National Petroleum Corporation of Namibia (NAMCOR) has emphasised its commitment to finding a path to develop the Venus Field in Block 2913B (PEL 56). 

These are in collaboration with its joint venture (JV) partners, Impact Oil & Gas, Qatar Energy, and TotalEnergies.

Shell Namibia says the US$400 million write-down of its petroleum exploration license, PEL 39, is not a complete walkaway from the asset but rather a normal accounting procedure. 

This comes after reports that Shell has written down the resources, which spread like wildfire in the oil and gas industry.