TotalEnergies designates Namibia as a new anchor country for operations
via The Namibian4 min read
TotalEnergies has expressed increasing confidence in Namibia, referring to it as a "new anchor country" as the company moves towards a final investment decision for its Venus project by July. During the TotalEnergies first quarter earnings call on April 29, chief executive Patrick Pouyanné stated that discussions with Namibian authorities indicate a mutually beneficial partnership. Pouyanné noted that the war in the Middle East has affected the company's operations, making exploration in Namibia a way to diversify. The company expects to make a final investment decision on the Venus project before the end of July and is currently finalizing paperwork with the Namibian government. Pouyanné mentioned that a compromise has been reached on terms for the Venus project, acknowledging that ultra-deep water projects require amendments to standard terms. He described engagements with the government as generally positive, highlighting talks with president Netumbo Nandi-Ndaitwah in January, after which TotalEnergies announced its stake in Galp Energia’s Mopane project. Pouyanné anticipates TotalEnergies and its partners will focus on drilling in Mopane over the next two years to assess its resource base, with a final investment decision for Mopane expected in 2028.
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This summary was AI-generated from a story originally published by The Namibian.
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