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Namibia targets first oil production from Venus field in 2029/2030
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Namibia targets first oil production from Venus field in 2029/2030
Apr 24, 2024 4:20 AM

WINDHOEK, April 24 (Reuters) - Namibia is planning for

the first oil production from TotalEnergies' Venus

field in 2029/2030, the country's petroleum commissioner Maggy

Shino said on Wednesday.

The southern African country, which is yet to produce any

oil or gas, has become a global exploration hotspot after

offshore discoveries by TotalEnergies and Shell and

wants to accelerate the milestone of first output.

In the most recent strike, Portugal's Galp Energia

said it had found at least 10 billion barrels of oil equivalent

in its Mopane field, part of the highly prospective but largely

unexplored Orange Basin.

U.S. oil major Chevron ( CVX ) is expected to begin

exploration later this year, with Exxon Mobil ( XOM ) aiming to

follow in 2025, Shino said.

"Moving onshore we are planning for a multi-drilling

campaign ... Reconnaissance Africa has made a commitment for one

well to be drilled this year," Shino said of a campaign in the

ecologically sensitive Okavango region.

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