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Namibia: TotalEnergies Makes a Significant Discovery in Offshore Block 2913B
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
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Rhea-AI Summary
TotalEnergies (Euronext: TTE) has announced a significant discovery of light oil with associated gas at the Venus prospect in Namibia's Orange Basin. The Venus 1-X well revealed approximately 84 meters of net oil pay within a high-quality Lower Cretaceous reservoir. TotalEnergies holds a 40% working interest in block 2913B, alongside partners QatarEnergy (30%), Impact Oil and Gas (20%), and NAMCOR (10%). A comprehensive coring and logging program has been completed to evaluate the commercial potential of this discovery.
Positive
Discovery of light oil and associated gas in Venus prospect enhances TotalEnergies' portfolio.
Approximately 84 meters of net oil pay indicates a high-quality reservoir.
Ongoing coring and logging programs aim to assess commercial viability.
Negative
None.
PARIS--(BUSINESS WIRE)--
Regulatory News:
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has made a significant discovery of light oil with associated gas on the Venus prospect, located in block 2913B in the Orange Basin, offshore southern Namibia.
The Venus 1-X well encountered approximately 84 meters of net oil pay in a good quality Lower Cretaceous reservoir.
“This discovery offshore Namibia and the very promising initial results prove the potential of this play in the Orange Basin, on which TotalEnergies owns an important position both in Namibia and South Africa” said Kevin McLachlan, Senior Vice President Exploration at TotalEnergies. “A comprehensive coring and logging program has been completed. This will enable the preparation of appraisal operations designed to assess the commerciality of this discovery.”
Block 2913B covers approximately 8,215 km² in deep offshore Namibia. TotalEnergies is the operator with a 40% working interest, alongside QatarEnergy (30%), Impact Oil and Gas (20%) and NAMCOR (10%).
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About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Universal Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).
What is the significance of the recent discovery by TotalEnergies (TTE) in Namibia?
TotalEnergies announced a discovery of light oil and associated gas at the Venus prospect in Namibia, indicating a potential boost to its resource portfolio.
How much oil pay was encountered at the Venus 1-X well by TotalEnergies (TTE)?
The Venus 1-X well encountered approximately 84 meters of net oil pay.
What is TotalEnergies' working interest in block 2913B in Namibia?
TotalEnergies holds a 40% working interest in block 2913B.
Who are TotalEnergies' partners in the Venus prospect?
TotalEnergies partners in the Venus prospect include QatarEnergy (30%), Impact Oil and Gas (20%), and NAMCOR (10%).
What is the next step for TotalEnergies (TTE) after the Venus discovery?
TotalEnergies will continue with coring and logging programs to prepare for appraisal operations assessing the commerciality of the discovery.
