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.

With vast capital investment going into oil exploration, Otjozondjupa Governor John ||Khamuseb said the Namibian government should get at least 30% of the profits from petroleum production companies.

In recent developments in the energy sector, TotalEnergies held consultations in Lüderitz as part of the environmental impact assessment process.

This process is a crucial step in their plans for oil exploration in the Orange Basin, located off the coast of Namibia.

The deadline to submit claims in the about N$122 million settlement against ReconAfrica is set for Thursday.

Namibia expects firmer estimates of recoverable reserves to be announced this financial year and aid in addressing socio-economic challenges such as unemployment.

A Brazilian delegation headed by Ambassador Carlos Duarte, Secretary for Africa and the Middle East in the Ministry of Foreign Affairs, has concluded an official visit to Namibia.

The visit is part of President Luiz Lula da Silva's initiative to re-engage Africa as a priority in Brazilian foreign policy.

The Namibian government wants the partnership with Qatar Energy to go beyond the exploration stage.