From Farm-ins to First Oil: How Collaboration is Driving Namibia’s Upstream Development

As Namibia targets first oil production by 2029, collaboration has emerged as one of the defining forces shaping the country’s upstream trajectory. With deepwater exploration characterized by high capital intensity, complex geology and long development timelines, partnerships are no longer optional – they are essential. As the country advances towards first oil, platforms such as the Namibia International Energy Conference (NIEC) emerge as central drivers, facilitating the deals and partnerships that power the country’s upstream development.

A Block Landscape Defined by Partnerships

Namibia’s offshore block ownership structure underscores the centrality of collaboration. Most acreage is held through partnerships combining supermajors, independents and national partners, each contributing complementary strengths. International oil companies bring technical expertise, deepwater experience and balance sheet strength, while independents often drive early-stage exploration momentum and innovative geological thinking. For Namibia, this opens the doors for greater investment, mitigated risk and accelerated project timelines, supporting the country’s transition from a frontier market into an African oil producer.  

Namibia’s Venus project is a clear example for how partnerships are supporting oil projects move from discovery to development. Led by operator TotalEnergies, the project is preparing to reach a final investment decision in 2026, with first oil on the cards for 2029 or 2030. The project – situated in PEL 56 – is held by TotalEnergies alongside Qatar Energy, Namcor and Impact. In December 2025, Galp acquired a 10% stake in PEL 56 under a broader deal which also grants TotalEnergies operatorship of PEL 83 – home to the Mopane discovery. Through the deal, the partners have launched an exploration and appraisal campaign which includes three wells over a two-year period – the first of which is planned for 2026. Through this diversified ownership structure, the companies have been able to pool capital, share risk and accelerate drilling across two of Namibia’s most prolific discoveries: Venus and Mopane.  

Recent M&A Activity Fuels Collaboration

Recent Merger&Acquisition (M&A) activity in Namibia reflects a broader trend by upstream companies seeking to leverage partnerships to drive exploration. In September 2025, Oregen Energy increased its ownership in WestOil Limited to 48.5%, granting the company a 33.95% indirect working interest in the Orange Basin’s Block 2712A. The company is advancing an exploration program in 2026, featuring a 3D seismic acquisition campaign and a farm-out process designed to bring in an international partner.

During the same month, Eco (Atlantic) Oil and Gas secured key license extensions across its Namibian licenses – PEL 97, 98, 99 and 100 – and farmed out its 85% interest in PEL 98 to Lamda Energy. September also saw the acquisition of BISP Exploration Inc. by Stamper Oil&Gas Corp, granting Stamper controlling interests of five Namibian oil and gas blocks across the Orange, Walvis and Lüderitz basins. Energy major Chevron acquired an 80% stake in PEL 82 – situated in the Walvis Basin – while Sintana Energy acquired Challenger Energy Group. The deal grants Sintana access to eight licenses in Namibia.

These moves signal operators’ readiness to invest, collaborate and drive upstream projects forward in Namibia. By pursuing strategic farm-ins and expanding portfolios, exploration and production companies are not only driving the country toward first oil production but validating the market’s position as one of the world’s leading frontier oil and gas provinces. 

NIEC: A Platform Where Collaboration Takes Shape

As international players consolidate their Namibian portfolios, NIEC 2026 emerges as a strategic platform for companies to connect with partners and advance strategic M&A deals. Returning to Windhoek for its 8th edition from 14–16 April 2026, NIEC brings together international operators, independents, financiers and Namibian stakeholders under a broader goal of establishing strategies for The Road to First Oil and Beyond.

More than a conference, NIEC functions as an ecosystem for collaboration – facilitating farm-ins, project partnerships and financing discussions that translate ambition into execution. As Namibia’s exploration story continues to unfold, it is these collaborative frameworks, forged both in boardrooms and on conference floors, that will ultimately determine how quickly and sustainably the country reaches first oil.

Distributed by APO Group on behalf of African Energy Chamber.