Drilling imminent at Namibia oil deposit, TotalEnergies says

Namibia has attracted other energy majors, including Shell and BP, with a series of large offshore discoveries. Drilling is imminent at Namibia’s Mopane oil deposit, TotalEnergies CEO Patrick Pouyanné said, putting fresh capital into the southern African country that has emerged as one of the industry’s most closely watched exploration frontiers. Namibia has attracted other energy majors, including Shell and BP, with a series of large offshore discoveries that promise to transform the nation’s Atlantic coast into sub-Saharan Africa’s hottest oil play. The French company, which took control of Mopane in September, will decide in 2028 whether it should be developed after the drilling. TotalEnergies already operates Namibia’s offshore Venus oil deposit, which is much further along than Mopane, with preparation for development underway. Negotiations with the Namibian government over commercial terms for Mopane have delayed a final investment decision, but Pouyanné said he was “optimistic” that it would be concluded. President Netumbo Nandi-Ndaitwah has prioritized value addition to create “decent jobs … and better lives” for Namibians.