TotalEnergies makes significant oil and gas discovery off Namibia

Energy giant TotalEnergies has made a significant discovery of light oil and gas off the coast of Namibia, the company announced on Thursday.

TotalEnergies said its Venus 1-X well, located in block 2913B in the Orange Basin, had found approximately 84 metres of net oil pay in a good quality lower cretaceous reservoir, without specifying the likely barrels of oil equivalent.

This is the second major offshore discovery in a month after Shell also announced a significant find earlier in February.

“This discovery offshore Namibia and the very promising initial results prove the potential of this play in the Orange Basin, on which TotalEnergies owns an important position both in Namibia and South Africa,” Kevin McLachlan, Senior Vice President Exploration at TotalEnergies, said in a statement.

“A comprehensive coring and logging programme has been completed. This will enable the preparation of appraisal operations designed to assess the commerciality of this discovery,” he added.

Block 2913B covers approximately 8,215 sq km in deep offshore Namibia, and TotalEnergies is the operator with a 40 percent working interest, alongside QatarEnergy (30 percent), Impact Oil and Gas (20 percent) and NAMCOR (10 percent).