Venus Oil Field (Namibia)
From Global Energy Monitor
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Venus Oil Field is a discovered oil field in Namibia.
Venus Oil Field is a part of the Venus complex.
Project Details
Main Data
Table 1: Field-level project details for Venus Oil Field
| Unit name | Status | Operator | Owner | Discovery year | FID1 year | Production start year | Production type |
|---|---|---|---|---|---|---|---|
| Venus | Discovered[1][2] | TotalEnergies[3][4] | TotalEnergies (45.25%); QatarEnergy (30.0%); National Petroleum Corporation of Namibia (10.0%); Impact Oil and Gas (9.5%)[5][6] | 2022[1] | 2025 (expected)[7] | 2029 (expected)[8][4][9] | Conventional[10] |
Production and Reserves
Table 2: Reserves of Venus Oil Field
| Fuel description | Reserves classification | Quantity | Units | Data year | Source |
|---|---|---|---|---|---|
| gas | resources | 14463.71 | million m³ | 2023 | [11] |
| liquids | resources | 1364.91 | million bbl | 2023 | [11] |
| oil | estimated recoverable resources | 3000 | million bbl | 2024 | [8][12][4][13] |
| oil | 2C | 5100 | million bbl | 2023 | [14][15][16] |
| oil | recoverable resources | 2000 | million bbl | 2024 | [17] |
Table 3: Production from Venus Oil Field
| Category | Fuel description | Quantity | Units | Data year | Source |
|---|---|---|---|---|---|
| production design capacity | oil | 91.25 | million bbl/y | 2028 | [13] |
| production design capacity | Crude oil and condensate | 7.3 | million bbl/y | 2030 | [18] |
Location
Table 4: Field-level location details for Venus Oil Field
| Concession/Block | Basin | Location | Onshore/Offshore | Coordinates (WGS 84) |
|---|---|---|---|---|
| Block 2913B[1] | Orange | Offshore, Namibia[19] | Offshore[20] | -29.503, 13.65 (exact)[19] |
The map below shows the exact location of the field(s) within the Venus complex:
Background
In 2022, the Venus-1 discovery became Africa's largest ever Sub-Saharan oil find with an estimated 1.5 to 2 billion barrels of oil. It was TotalEnergies largest discovery in approximately 20 years. Phase one is expected to exploit around 920 million barrels of oil.
The Venus field is stated to have the potential to produce approximately 250,000 barrels of oil per day. [21] In January 2024, TotalEnergies planned to acquire an additional 10.5% interest in block 2913B. This acquisition agreement allows Africa Oil Corporation an opportunity to participate in the Venus field development with no upfront costs and continued appraisal activities. The acquisition also allows TotalEnergies to share participating interest with QatarEnergy, a strategic partner and joint venture member. [22]
Namibia was once seen as an exploration graveyard following disappointing exploration results in the 1970's and 1980's, but the Orange Basin was considered, as of 2024, to be an exploration hot spot. The Orange basin may contain up to 10 billion BOE, with first oil expected in 2029.[23]
Articles and Resources
Additional Data
To access additional data, including an interactive map of oil and gas extraction sites, a downloadable dataset, and summary data, please visit the Global Oil and Gas Extraction Tracker on the Global Energy Monitor website.
References
- ↑ 1.0 1.1 1.2 https://web.archive.org/web/20230326144247/https://totalenergies.com/media/news/press-releases/namibia-totalenergies-makes-significant-discovery-offshore-block-2913b. Archived from the original on 26 March 2023.
{{cite web}}: Missing or empty|title=(help) - ↑ https://www.reuters.com/markets/commodities/namibia-excites-oil-firms-by-opening-up-new-frontier-basin-2024-04-24/.
{{cite web}}: Missing or empty|title=(help) - ↑ African Energy Chamber (44859). "The State of African Energy 2023 Outlook" (PDF). African Energy Chamber. Archived from the original (PDF) on December 9, 2022. Retrieved December 9, 2022.
{{cite web}}: Check date values in:|date=(help); Invalid|url-status=Live(help) - ↑ 4.0 4.1 4.2 African Energy Commission (44835). "Africa and Just Energy Transition: Considerations for the Expansion of the African Oil & Gas Domestic Market" (PDF). African Energy Commission. Archived from the original (PDF) on 44972. Retrieved 44972.
{{cite web}}: Check date values in:|access-date=,|date=, and|archive-date=(help); Invalid|url-status=Live(help) - ↑ https://www.reuters.com/business/energy/totalenergies-increases-its-stakes-oil-blocks-offshore-namibia-2024-01-10/.
{{cite web}}: Missing or empty|title=(help) - ↑ https://web.archive.org/web/20240115034938/https://www.ogj.com/home/article/14303509/totalenergies-increases-share-in-venus-discovery-offshore-namibia. Archived from the original on 15 January 2024.
{{cite web}}: Missing or empty|title=(help) - ↑ https://web.archive.org/web/20240115031102/https://riglynx.com/offshore-namibia-is-quickly-becoming-an-exploration-hotspot. Archived from the original on 15 January 2024.
{{cite web}}: Missing or empty|title=(help) - ↑ 8.0 8.1 https://web.archive.org/web/20230102222456/https://www.upstreamonline.com/exclusive/at-least-3-billion-barrels-totalenergies-venus-is-sub-saharan-africas-biggest-ever-oil-discovery/2-1-1174983. Archived from the original on 02 January 2023.
{{cite web}}: Check date values in:|archive-date=(help); Missing or empty|title=(help) - ↑ https://web.archive.org/web/20240115032833/https://www.namcor.com.na/upstream-development-production/. Archived from the original on 15 January 2024.
{{cite web}}: Missing or empty|title=(help) - ↑ https://web.archive.org/web/20240803193931/https://www.youtube.com/watch?v=ywgXP48903E. Archived from the original on 03 August 2024.
{{cite web}}: Check date values in:|archive-date=(help); Missing or empty|title=(help) - ↑ 11.0 11.1 "The State of African Energy Q2 2023 Outlook" (PDF). African Energy Chamber. 2023. Archived (PDF) from the original on January 11, 2024. Retrieved January 11, 2024.
- ↑ https://web.archive.org/web/20230514202545/https://www.upstreamonline.com/exclusive/world-beater-totalenergies-venus-discovery-in-namibia-may-be-biggest-ever-deep-water-find/2-1-1206475. Archived from the original on 14 May 2023.
{{cite web}}: Missing or empty|title=(help) - ↑ 13.0 13.1 Organization of the Petroleum Exporting Countries (2024). "World Oil Outlook 2050". OPEC. Retrieved October 15, 2024.
{{cite web}}: CS1 maint: url-status (link) - ↑ https://www.reuters.com/article/namibia-oil/namibias-offshore-oil-discoveries-estimated-at-11-bln-barrels-namcor-idUKL8N3A41HS/#:~:text=CAPE%20TOWN%2C%20Aug%2023%20(Reuters,a%20presentation%20of%20preliminary%20data.
{{cite web}}: Missing or empty|title=(help) - ↑ https://web.archive.org/web/20240119000522/https://www.spglobal.com/commodityinsights/en/ci/research-analysis/2022-exploration-drilling-review-and-2023-high-impact-well-hiw.html. Archived from the original on 19 January 2024.
{{cite web}}: Missing or empty|title=(help) - ↑ https://web.archive.org/web/20240126193159/https://www.offshore-energy.biz/rystad-2022-high-impact-oil-gas-drilling-activity-on-track-to-yield-one-of-the-most-productive-annual-volumes/. Archived from the original on 26 January 2024.
{{cite web}}: Missing or empty|title=(help) - ↑ https://web.archive.org/web/20240131193051/https://oilreviewafrica.com/exploration/kudu-remains-national-strategic-project-namibia-petroleum-commissioner. Archived from the original on 31 January 2024.
{{cite web}}: Missing or empty|title=(help) - ↑ GlobalData (45532). "Global top ten upcoming oil fields". Offshore Technology. Archived from the original on 45561. Retrieved 45561.
{{cite web}}: Check date values in:|access-date=,|date=, and|archive-date=(help) - ↑ 19.0 19.1 https://web.archive.org/web/20230401020303/https://www.offshore-mag.com/drilling-completion/article/14285780/offshore-namibia-partners-set-to-resume-drilling-on-venus-oil-discovery. Archived from the original on 01 April 2023.
{{cite web}}: Check date values in:|archive-date=(help); Missing or empty|title=(help) - ↑ Natural Earth. 45078 https://www.naturalearthdata.com/downloads/10m-physical-vectors/10m-ocean/. Archived from the original on June 29, 2023. Retrieved June 29, 2023.
{{cite web}}: Check date values in:|date=(help); Missing or empty|title=(help) - ↑ Esau, Iain (2022-02-25). "At least 3 billion barrels: TotalEnergies' Venus is Sub-Saharan Africa's biggest ever oil discovery". upstreamonline.com. Retrieved 2024-03-07.
- ↑ Cavcic, Melisa (2024-01-10). "TotalEnergies boosts its stake in Namibian oil discovery with acquisition of more interests in two offshore blocks". Offshore Energy. Retrieved 2024-03-07.
- ↑ Mitchell, Charlie (March 06, 2024). "TotalEnergies, QatarEnergy farm in to South African oil exploration block". S&P Global Commodity Insights.
{{cite web}}: Check date values in:|date=(help)CS1 maint: url-status (link)
