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TotalEnergies Makes ‘Significant’ Oil Discovery Off Namibia

  • Light oil and associated gas at Venus well is ‘very promising’
  • Shell also found oil in a nearby block earlier this month
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TotalEnergies SE made a “significant” oil discovery off the coast of Namibia, three weeks after Shell Plc announced a find off the southwest African nation.

Explorers have drilled more than a dozen wells in the area in search of oil and gas. The potential opening of a new basin comes at a time when views on fossil fuels are becoming more polarized across Africa, with oil producers arguing that countries deserve to benefit from selling their natural resources, while environmental and community groups have sought to block new developments.