TotalEnergies has officially submitted the Field Development Plan (FDP) for the Venus offshore oil discovery to Namibian authorities, marking a major milestone in what could become Namibia’s first deepwater oil production project.
The submission signals that the project is shifting from exploration excitement to serious development planning — the energy industry’s version of moving from sketches on a napkin to blueprints on a construction table.
The Venus discovery, located in Block 2913B in Namibia’s Orange Basin, is regarded as the country’s most advanced offshore oil project. Through its stake in Impact Oil & Gas, Meren Energy holds an indirect 3.8% interest in the development, while TotalEnergies continues to carry the exploration and development costs through to first production.
Industry analysts and government officials increasingly see Venus as the anchor project that could launch Namibia into the ranks of global offshore oil producers. The FDP submission now opens formal discussions with Namibian regulators on technical approvals, environmental requirements, fiscal terms and broader development planning ahead of a targeted final investment decision (FID) by late 2026.
According to project disclosures, Venus has already completed extensive appraisal drilling and is now considered a fully appraised discovery with a defined development concept. The proposed development includes a deepwater subsea production system connected to a floating production, storage and offloading vessel (FPSO) — a setup commonly used in major offshore oil developments worldwide.
Front-end engineering and design (FEED) work has also been completed, providing the technical foundation for detailed cost estimates and execution planning. Current projections suggest the first phase of the project could recover approximately 750 million barrels of oil, with production capacity estimated at around 150,000 barrels per day. If timelines remain on track, first oil could be achieved around 2030.
TotalEnergies has indicated that project costs have been refined through competitive engineering and procurement processes, helping improve confidence ahead of the anticipated investment decision. The company also says the development strategy includes measures aimed at reducing emissions intensity, including reinjection of associated gas to maintain a lower carbon footprint relative to comparable deepwater projects.
Meanwhile, Namibia is accelerating preparations for a future offshore petroleum industry. Oversight of the upstream oil and gas sector has been consolidated under the Upstream Petroleum Unit in the Office of the President, while work continues on local content policies, petroleum legislation and infrastructure upgrades at ports such as Lüderitz and Walvis Bay.
As momentum builds around Venus and other offshore discoveries, the focus is steadily shifting from exploration success to execution. In the oil and gas industry, discovering hydrocarbons is only the opening chapter — delivering first production is where the real test begins.
