TotalEnergies chief executive Patrick Pouyannétold investors on 23 July that the consortium and government aimed toconclude discussions by end of July
Source
“TotalEnergies chief executive Patrick Pouyanné told investors on 23 July that the consortium of companies working on Venus and the Namibian government had aimed to conclude discussions by the end of July.”
Patrick Pouyanné, Chairman and CEO of TotalEnergiesstatedTotalEnergies is eager to keep building on collaboration with Namibian authorities
Source
“He further stated that TotalEnergies is eager to keep building on its collaboration with the Namibian authorities in order to deliver both developments.”
Patrick Pouyanneheldjoint meeting with Namibia's president on oil and gas partnership
Source
“Just last week, Patrick Pouyanné, CEO of TotalEnergies, and Paula Amorim, chairman of Galp, held a joint meeting with President Netumbo Nandi- Ndaitwah, where they reiterated their longterm commitment to the country.”
Patrick Pouyannésaidthe partnership with Galp marked an important milestone as Namibia prepares to become an oil and gas producer
Source
“Pouyanné said the partnership with Galp marked an important milestone as Namibia prepares to become an oil and gas producer, adding that the companies aim to develop both Venus and Mopane responsibly while building long-term value for the country.”
Chief executive Patrick PouyannesaidNamibia is at the top of TotalEnergies' spending priorities for exploration and appraisal
Source
“This was said by chief executive Patrick Pouyanne during the recent presentation of the company's 2023 financial results and objectives for the year 2024.”
The Namibian government has approved TotalEnergies' takeover as operator of petroleum exploration licence 83, which contains the Mopane discovery. TotalEnergies now owns 40% of the block, with partner Galp Energia holding 40%, and plans a three-well appraisal campaign ahead of a final investment decision targeted for 2028.
The Namibian government has approved TotalEnergies' takeover as operator of petroleum exploration licence 83, which contains the Mopane discovery. TotalEnergies now owns 40% of the block, with partner Galp Energia holding 40%, and plans a three-well appraisal campaign ahead of a final investment decision targeted for 2028.
TotalEnergies says a Final Investment Decision on the Venus oil project must be taken before 2027, citing completed engineering work and ongoing discussions with authorities. The company warns that contractor tender offers have validity periods and delays could increase costs or require reassessment.
A special advisor to the President said policy alone cannot create a competitive local supplier base; Namibia must instead build skills, standards, and capability to meet international oil companies' procurement requirements. President Nandi-Ndaitwah announced Cabinet approval of an upstream local content policy designed to ensure petroleum development delivers socio-economic benefits to citizens.
Despite targeting 2030 for first oil production, Chevron and Rhino Resources announced further drilling projects at Namibia's energy conference but neither committed to final investment decisions. The government hopes for FIDs by 2026, though policy uncertainty around gas flaring and regulatory delays are hindering investment confidence.
Energy company TotalEnergies has agreed to exit US offshore wind development, relinquishing two leases and receiving refunds under a settlement with the US Department of the Interior. The company will redirect its investment into US gas and power projects, citing offshore wind's high costs and potential to increase electricity prices.
Namibia's Minister of Industries, Mines and Energy expressed concern that TotalEnergies and Galp Energies failed to obtain prior government approval before announcing their acquisition of oil interests in PEL83 (Mopane discovery) and PEL56 (Venus discovery), despite such approval being legally required.
Venezuela's ambassador to Namibia has urged the country to learn from Venezuela's political crisis and develop mechanisms to protect its emerging oil and gas sector, cautioning that traditional international law and respect for sovereignty cannot be relied upon. The warning comes as Namibia positions itself as a key oil and gas frontier following major offshore discoveries in the Orange Basin.
TotalEnergies and Galp have announced a partnership reshaping operatorship of key offshore licences in Namibia's Orange Basin, with TotalEnergies taking over PEL 83 (Mopane) and Galp acquiring interests in PEL 56 and PEL 91 (Venus). The companies briefed President Nandi-Ndaitwah on their long-term commitment to developing these discoveries responsibly while creating jobs and economic benefits for Namibians.
TotalEnergies and Galp Energia met President Netumbo Nandi-Ndaitwah to update her on their December agreement involving offshore petroleum licences, with TotalEnergies taking operatorship of the Mopane discoveries and Galp entering the Venus project. Both companies outlined expected contributions to employment and local industry participation, with Venus development projected to generate N$127–229 billion over 25 years.