TotalEnergies Boosts Africa Exploration Strategy as Namibia Offshore Oil Projects Advance Toward 2026 Investment Decision
TotalEnergies is accelerating its global exploration strategy, investing approximately $1 billion annually in new energy developments as it strengthens its upstream portfolio across key regions, including Africa.
The company says its long-term growth depends not only on capital investment but also on building strong partnerships, trust, and sustained collaboration with host governments and local communities.
Namibia Emerges as a Strategic Offshore Energy Frontier
New offshore discoveries are positioning Namibia as one of the world’s most promising emerging oil and gas provinces. Speaking at the Namibia International Energy Conference in Windhoek, TotalEnergies Senior Vice President for Africa, Mike Sangster, highlighted the importance of cooperation in unlocking the country’s energy potential.
He said large-scale energy projects require long development timelines and depend heavily on trust between governments, investors, and communities.
According to Sangster, open and consistent engagement has been central to TotalEnergies’ operations in Namibia since 2017.
The company continues to view Africa as a core pillar of its global energy strategy, with ongoing investments spanning exploration and production across multiple countries.
Venus Discovery and Namibia’s Development Potential
In Namibia, TotalEnergies is actively involved in the offshore Venus oil discovery, which has the potential to transform the country into a significant oil producer.
Sangster described the project as technically complex but potentially transformative, with the ability to stimulate economic growth, create employment opportunities, and significantly increase government revenues.
The company is also implementing training and capacity-building programs aimed at preparing local workers for participation in the emerging energy sector.
TotalEnergies expects to reach a final investment decision (FID) by mid-2026. If approved, development activities could begin shortly thereafter.
Focus on Competitiveness and Local Benefits
Sangster emphasized that future energy projects must remain both competitive and inclusive. He noted the importance of clear regulatory frameworks that ensure benefits are shared between investors, governments, and local communities.
He described the current phase of development as the beginning of a new stage for Namibia’s energy sector, with long-term implications for regional growth and energy security.
Broader African Energy Strategy
Beyond Namibia, TotalEnergies continues to expand its footprint across Africa, including major upstream projects in Uganda and other key oil-producing regions.
The company maintains that Africa remains central to its global portfolio, particularly as new discoveries and development opportunities continue to emerge across the continent.
Operational Performance and Global Energy Context
In its latest quarterly update, TotalEnergies reported stable production levels despite global disruptions linked to geopolitical tensions in the Middle East.
Conflicts following strikes on Iran at the end of February temporarily affected global shipping routes, including traffic through the Strait of Hormuz, a key corridor for oil and LNG exports.
The company estimated a temporary production impact of around 15%, which was offset by increased output from new projects in Brazil and Libya. Liquefied natural gas (LNG) production also rose by approximately 10% compared to the previous quarter of 2025.
As TotalEnergies continues to expand its exploration and production activities, Namibia’s offshore oil sector is increasingly viewed as a potential game changer for the region.
With a final investment decision expected in 2026, the country’s Venus project could mark a significant milestone in Africa’s evolving energy landscape.
