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Partner in huge Namibia oil discovery heads for exit - could stake be worth $1.7 billion? - Upstream Online

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Partner in huge Namibia oil discovery heads for exit - could stake be worth $1.7 billion? | Upstream Online

A key partner in TotalEnergies’ huge Venus oil find offshore Namibia is waiting on tenterhooks for results from a production test on the discovery well as it prepares to sell all or part of what will be coveted stakes in the ultra-deepwater asset.

Partner in huge Namibia oil discovery heads for exit - could stake be worth $1.7 billion?

Developing TotalEnergies-operated Venus is 'way beyond' funding capacity of Impact Oil & Gas and HCI, its major shareholder

17 August 2023 7:45 GMT Updated 17 August 2023 7:51 GMT
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in London

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Related Knowledge Center: ENERGY BASICS: petroleum

State of Play

While electric-powered vehicles may be the ride of the future, oil remains at least for now the dominant fuel for transportation around the world. And after a period of time at the end of the 20th century when oil was subject to wide fluctuations in price, new supplies in North America as a result of non-conventional recovery techniques have helped stabilize prices.

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