The National Petroleum Corporation of Namibia (Namcor), in conjunction with its joint venture partners Impact Oil and Gas, Qatar Energy and TotalEnergies, remains committed to finding a path to develop the Venus Field in Block 2913B (PEL 56). 

In a recent statement, Namcor noted that exploration of another prospect, Marula-1X, was unsuccessful. 

“As partners, we are pleased to confirm that progress on the Venus field development continues at an accelerated pace, with the Final Investment Decision (FID) targeted in early 2026. The JV partners have embarked on the Environmental and Social Impact Assessment (ESIA) process to support this development,” Namcor stated this week. 

Meanwhile, stakeholder engagement sessions were successfully conducted between 7 and 30 April 2025 in different locations, mainly in the Erongo and Kharas regions, reflecting the JV’s commitment to responsible and transparent development practices.

This continued advancement underlines the partners’ confidence in the Venus discovery and its commercial potential, reinforcing Namibia’s position as a globally-significant emerging hydrocarbon province. 

“While the results of Marula-1X, an exploration well outside Venus main field, was not what we had hoped for, our focus remains firmly on the commercial potential of the Venus field. The accelerated development of this project is a clear signal of our commitment to Namibia’s energy future,” commented Namcor’s acting managing director Victoria Sibeya.

Petroleum Exploration Licence 56, Block 2913B, is located offshore southern Namibia.

 It covers just over 8 200 square kilometres in water depths up to 3 000 metres. 

PEL56 is operated by TotalEnergies EP Namibia, who holds a 50.5% interest.

 QatarEnergy holds a 30% interest.

 Namcor holds a 10% interest, and Impact Oil & Gas Namibia (Pty) Ltd) holds a 9.5% interest. 

Petroleum Exploration Licence 91, Block 2912, also located offshore southern Namibia, covers some 7 880 square kilometres in water depths between 3 000 and 3 900 metres.

 PEL 91 is operated by TotalEnergies EP Namibia, who holds a 47.2% interest, QatarEnergy holds a 28.3% interest, Namcor holds a 15% interest and Impact Oil and Gas Namibia (Pty) Ltd) holds a 9.5% interest.