A confidential report from Edinburgh-based Wood Mackenzie, an industry-leading consultant, says that TotalEnergies’ enormous Venus-1 discovery in Namibia holds at least 3 billion barrels of recoverable oil. This, Upstream reports, surpass TotalEnergies’ fields in Angola and Nigeria, making it Sub-Saharan Africa’s biggest ever oil find. It is estimated that the first oil could flow in 2028 and that when both Venus and Shell’s Graff field are in production, Namibia could accrue over $3.5 billion annually in royalties and taxes.
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