Namibia Lubricates Regulatory Framework in View of Final Investment Decisions by Oil Majors

In April 2026, the Government of Namibia indicated that it is fast-tracking the regulatory framework for the oil sector as oil majors prepare for Final Investment Decisions (FID). TotalEnergies’ decision on the Venus Project in Block 2913B is expected in the second half of 2026. Following the hit at Merlin-1X Well, Shell is conducting further drilling to map out the hydrocarbon reserves and project FID in 2027.

Namibia’s Petroleum Commissioner Maggy Shino publicly declared that she is looking forward to witnessing first oil in the Orange Basin by 2030. Thus, plan is to pass the Petroleum Amendment Bill through the Namibian Parliament and codify into law in sync with the FID.

TotalEnergies is likely to employ a Floating Production Storage and Offloading (FPSO) platform and has already initiated the procurement tender. The target is to achieve at least 150,000 barrels per day at the Venus field.

With regard to the Mopane field, TotalEnergies is taking over the operation and is launching a three-well exploration appraisal. The first well is scheduled to spud in the 2H2026, with the remaining two to start drilling in 2027. The Mopane discovery has an estimated reserve of of about 10 billion barrels.

Shell is carrying out an evaluation of the Graff and Jonker Fields, which are believed to conatin 200 million barrels and 400 million barrels, respectively. It is in the process of producing engineering design and evaluating costs and targets production to start by the end of 2029.

American oil companies Chevron and ExxonMobil came after TotalEnergies and Shell. By the end of 2026, Chevron’s Nabba-1X exploration well will enter the spud phase under Petroleum Exploration License (PEL90). ExxonMobil secured an exploration block off northern Namibia in the Namibe Basin.