In a recent presentation of preliminary data, NAMCOR, the state-owned oil firm of Namibia, revealed that the country has a significant oil reserve of approximately 11 billion barrels in its newly discovered offshore fields. Among these fields, TotalEnergies’ Venus-1X discovery accounts for almost half of the total oil reserve.
This discovery is a significant milestone for Namibia, as it opens up new possibilities for the country’s oil industry. The presence of such a substantial oil reserve provides an opportunity for Namibia to increase its energy production and potentially boost its economy. With TotalEnergies’ Venus-1X playing a crucial role in this reserve, the company’s expertise and investment in the region will be instrumental in further exploration and development efforts.
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