TotalEnergies has intensified its offshore oil exploration efforts in Namibia's Orange Basin, aiming to tap potentially lucrative reserves. The French energy giant has begun drilling activities for its second exploration target, the Marula-1X well, after reporting significant findings from the Tamboti-1X well.
The Tamboti-1X exploration well, located within Block 2913B, is part of TotalEnergies' ambitious agenda and was drilled using the Deepsea Mira rig. Spudding commenced in October 2024, and initial reports highlighted the presence of black oil discovered within 85 meters of the net reservoir, found predominantly within lower-quality Upper Cretaceous sandstones of the Mangetti fan system. The drilling and testing completion of this well confirmed the area's potential, with data from log, core, and drill stem tests now under detailed analysis.
Roger Tucker, president and CEO of Africa Oil, which holds a 39.5% stake in the project, expressed optimism about the identifier potential of the Venus field. He stated, "The Venus project is progressing well and we are encouraged by the operator’s public statements on the commerciality and quality of this field. There is also an exciting exploration program with Marula-1X operations under way and the plan to start drilling Olympe-1X well by the end of 2025." Tucker also noted the innovative strategies to mitigate upfront costs, highlighting TotalEnergies' covering of development expenses until the first commercial production.
The Marula-1X well, which officially began drilling on February 3, 2025, is considered equally promising. The well is aimed at Albian-aged sandstones found within the Marula fan complex and is believed to lie within the source rock kitchen for the Kudu gas field, according to Impact Oil & Gas, one of TotalEnergies' joint venture partners. The area is significant for both its geological characteristics and the favorable market conditions surrounding oil production.
Following the progress at Marula-1X, additional drilling ventures are planned, including the Olympe prospect expected to commence by the close of 2025. The anticipated production from the Venus field is expected to reach 150,000 barrels of oil daily, aimed for operational commencement following the final investment decision (FID) slated for mid-2026.
Prior explorations have validated this region's commercial viability, as indicated by the success of the Venus-1X discovery well conducted back in 2022. Subsequent drilling campaigns and testing involving the Venus-1A, Venus-2A, and Mangetti-1X wells have consolidated the revenue-generative potential of these explorations. The strategic partnerships established through TotalEnergies, QatarEnergy (30%), Africa Oil (9.5%), and Namibia's NAMCOR (10%) have continued to fortify the reliability of these operations, balancing risk and reward efficiently.
Despite the promising reports, TotalEnergies' CEO Patrick Pouyanne acknowledged some setbacks with the Tamboti well's permeability, stating the condition could impact its commerciality. “Recent evaluations suggest the Tamboti’s permeability is not good, yet there are possibilities with fracking and horizontal drilling techniques to improve situations,” he remarked. Such comments shed light on the realities of oil extraction, where geological challenges can dictate success.
The underlying importance of these drilling operations extends beyond financial gain. The endeavor to explore and potentially exploit vast offshore oil and gas reserves suggests broader economic benefits for Namibia and its energy sector stakeholders. Developing these resources could also diversify employment opportunities, facilitate energy independence, and augment national revenues.
The project will be closely monitored, with industry experts and stakeholders anticipating developments as they emerge. TotalEnergies and its partners have laid out clear action plans and timelines, aiming to solidify Namibia's position as a player on the global energy stage.
Overall, as the oil industry grapples with fluctuative prices and environmental concerns, Namibia's foray under the ocean could yield strategic insights for sustainable development and international energy relations.