Namcor reports on operational progress of Venus wells

 

Exterior view of the NAMCOR (National Petroleum Corporation of Namibia) offices

 

The National Petroleum Corporation of Namibia (Namcor) has made significant progress in its post-well studies for the Venus oil wells. The studies, which include analysing core samples, logging data, and fluid samples, form part of Namibia’s growing oil exploration activities in the Orange Basin.

 

 

Ongoing collaboration and operational updates

 

Namcor’s latest operational update indicates continued work throughout 2025 in collaboration with joint venture partners TotalEnergies, Qatar Energy, and Impact Oil and Gas Namibia. This partnership has reported steady progress in its operations, increasing investor confidence in the sector.

In addition, Namcor has seen an increase in interest from upstream oil and gas investors. The corporation is hosting data rooms to enable clients to evaluate non-proprietary exploration data for potential farming opportunities with license holders or through applications to the Ministry of Mines and Energy. The national oil company’s Public Relations and Communications Specialist, Utaara Hoveka.

 

 

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Communication and Public Relations Specialist at Namcor, Utaara Hoveka

 

 

 

Venus-1 discovery: A game-changer for Namibia

 

The Venus-1 discovery in 2022 positioned itself as Sub-Saharan Africa’s largest oil find, with reserves estimated between 1.5 and 2 billion barrels. This discovery marked TotalEnergies’ most significant find in two decades, with the first phase targeting the extraction of 920 million barrels.

The Venus field is expected to produce approximately 250,000 barrels of oil daily. TotalEnergies announced plans to acquire an additional 10.5% stake in block 2913B in January 2024. This agreement allows Africa Oil Corporation to participate in the field’s development without initial costs, while QatarEnergy strengthens its role as a strategic partner in the joint venture.

 

 

Map showing Namibia’s oil operations

 

Orange Basin: From ‘graveyard’ to global hotspot

 

The Orange Basin once dismissed as an exploration graveyard due to poor results in the 1970s and 1980s, is now an internationally recognised hub for oil exploration. As of 2024, the basin’s reserves are estimated at up to 10 billion barrels of oil equivalent, with production expected to commence by 2029.

The Orange Basin’s transformation shows Namibia’s emergence as a significant player in the global oil and gas industry, with high-impact wells, appraisal studies, and seismic campaigns attracting global attention.