Namibia Surges Ahead of South Africa in Orange Basin Oil Boom

Namibia is rapidly emerging as Africa's next major oil producer in the Orange Basin petroleum province, leaving neighboring South Africa behind. The basin, spanning the Atlantic maritime border between the two countries, is estimated to contain more than 20 billion barrels of oil equivalent.

TotalEnergies' Venus Project in offshore Namibia targets an initial production capacity of around 150,000 barrels of oil per day, with first oil aimed for 2030. The project's Venus-1X well is estimated to hold 1.5 billion barrels of light crude and 4.8 trillion cubic feet of gas.

Shell Plc and its JV partners reported a major oil discovery at the Merlin-1X exploration well within Petroleum Exploration Licence 39 (PEL 39), with recoverable reserves estimated at 750 million barrels for Phase 1.