Namibia’s offshore oil and gas industry is poised for remarkable expansion in 2025, with increased licensing opportunities and a surge in drilling activities.
The country is cementing its status as a major oil frontier, attracting international investors eager to explore its vast offshore potential.
During a recent webinar hosted by the African Energy Chamber, Wood Mackenzie, and Namibia’s Ministry of Mines and Energy, Petroleum Commissioner Maggy Shino announced the government’s plans to issue new exploration licenses, spanning deepwater, ultra-deepwater, and shallow-water environments.
“We are operating in an open licensing regime and will be receiving applications shortly. Namibia is committed to fostering foreign direct investment in its oil and gas sector.”
Maggy Shino, Petroleum Commissioner
Two of Namibia’s most significant offshore discoveries—TotalEnergies’ Venus project in Block 2913B and Galp’s Mopane discovery—are progressing toward development.
The Venus project, which has generated significant interest from industry players, remains on track for a final investment decision (FID) in 2026.
According to Shino, recent assessments have confirmed higher density and permeability in the Venus field compared to other blocks, making it a commercially viable prospect.
Similarly, Galp’s Mopane discovery has advanced with 3,500 km² of high-density seismic data collected to refine volume estimates and accelerate its FID.
Meanwhile, Shell’s PEL 39 discovery, where the company recently wrote down $400 million, remains under evaluation.
Shino stated that Shell and its partners are analyzing data from the nine wells drilled so far to determine the most efficient development pathway.
Namibia’s offshore basin remains largely underexplored, despite its vast size and immense potential. Ian Thom, Research Director for Sub-Saharan Africa Upstream at Wood Mackenzie, commented on the enormous scale of the country’s offshore acreage.
“The scale is enormous – there’s 220,000 square kilometers of offshore license acreage.
“With just over 20 exploration and appraisal wells drilled, this area is still hugely underexplored.”
Ian Thom, Research Director for Sub-Saharan Africa Upstream
Ramping Up Drilling Activity in 2025
With the prospects of new discoveries and expanded exploration, drilling activity in Namibia is expected to ramp up significantly in 2025. Seven wells are slated to be drilled this year alone, with several major projects already in motion.
BW Energy plans to drill at the Kharas prospect within the Kudu license, a key area that has shown promise for both oil and gas.
Additionally, Rhino Resources is awaiting results from two high-impact wells in PEL 85, while TotalEnergies is set to drill in South Africa’s Orange Basin, which shares a maritime boundary with Namibia. Shell may also drill in an ultra-deepwater block near the shared boundary.
Shino shared an optimistic outlook on the Kudu license, stating that BW Energy has “identified new targets with upside potential – not only for gas, but also for oil within the main area,” and confirmed that two wells are planned by the end of the year.
The ramp-up in drilling activities signals a turning point for Namibia’s offshore oil and gas industry, as the country moves closer to achieving first oil production.
As Namibia advances toward first oil production, the government remains committed to ensuring that the petroleum discoveries translate into long-term economic benefits for the nation.
“We are offering a sustainable operating environment, ensuring all discoveries are in a race to first oil while making a lasting impact on the local economy.”
Maggy Shino, Petroleum Commissioner
Namibia’s exploration boom and licensing opportunities will take center stage at the African Energy Week (AEW): Invest in African Energies 2025, where government leaders, industry executives, and investors will gather to discuss the latest developments firsthand.
AEW offers unparalleled access to key decision-makers who are shaping the future of Namibia’s energy landscape, and it will be a pivotal moment for international investors looking to explore the country’s offshore opportunities.
As major discoveries continue to progress toward production and new blocks open for investment, Namibia is set to solidify its place as one of Africa’s most exciting oil and gas frontiers.
The coming years are expected to be transformative for the country’s energy sector, providing new opportunities for growth and contributing to the broader economic development of Namibia.
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