TotalEnergies Expressed Confidence in Namibian Drilling Ventures

TotalEnergies' Namibian Drilling Endeavors Spark Optimism in Energy Sector

by Ikeoluwa Juliana Ogungbangbe
TotalEnergies Namibian drilling ventures

In a conference call held on February 8th, TotalEnergies chairman and CEO, Patrick Pouyanné, expressed unwavering optimism about the company’s drilling prospects in Namibia. Pouyanné emphasized Namibia’s status as a top priority for TotalEnergies, allocating a significant portion of its exploration and appraisal budget to the country, totaling 30%. The remarks were made during a discussion on TotalEnergies’ latest results.

The French energy giant is currently engaged in drilling operations in Namibia, focusing on the Venus-2A appraisal well and the Mangetti-1 exploration well. Highlighting successes from the previous year, Pouyanné noted the discovery of “some hydrocarbons” at the Mangetti-1 well and confirmed the extension of the Venus reservoir. The Mangetti-1 well, situated to the north of the Venus finds, has shown promising signs of productivity and permeability, although some areas present less favorable characteristics.

Pouyanné emphasized TotalEnergies’ commitment to further exploration and appraisal efforts, citing ongoing excitement within the company. He mentioned plans for another exploration potential well south of the Venus site, stating the importance of appraising newly discovered resources. While specific flow rates for the Venus find were not disclosed, Pouyanné acknowledged a “very good” outcome from one drill stem test, albeit with challenges in the location of the second test. Emphasizing the need for strategic development decisions, he stressed the importance of optimizing the location of equipment to minimize costs and ensure proximity to productive zones.

The company has been strategically expanding its presence in Namibia. Recently, the company agreed to acquire a majority stake in the Tungsten Explorer drillship from Vantage Drilling International. This move, totaling $199 million, aims to enhance TotalEnergies’ capacity for deepwater drilling operations and further its exploration goals in Namibia. The acquisition aligns with TotalEnergies’ strategy to offset drilling costs while pursuing high-potential projects.

Moreover, TotalEnergies’ collaboration with Impact Oil and Gas in Namibia’s Blocks 2912 and 2913B underscores its commitment to strategic partnerships in the region. By acquiring additional interests and supporting partners like Impact Oil and Gas, TotalEnergies aims to leverage synergies and maximize exploration potential.

TotalEnergies is conducting 3D seismic surveys in the southern area of Namibia’s blocks, adjacent to the South African border. This strategic move reflects the company’s proactive approach to exploration, utilizing advanced technologies to identify promising prospects. Through ongoing investments, partnerships, and exploration initiatives, TotalEnergies aims to unlock the full potential of Namibia’s energy resources while contributing to economic prosperity and energy security.

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