Namibia’s Orange Basin: Gas-Heavy Fields Shape the Road to First Oil
Namibia’s Orange Basin holds 5.2 bn boe of discovered resource, but no project has been sanctioned yet. First oil is expected in 2030, and output could peak at about 460 kbbl/d by 2034–35. TotalEnergies’ Venus project is closest to FID, with fiscal terms the last major hurdle. Large volumes of associated gas mean Venus and Mopane will likely need costly purpose-built FPSOs, which leaves their economics exposed to cost overruns. Capricornus, which can use a leased FPSO, holds its value better.