Dutch Giant SBM Offshore Makes Bold Move for Namibia’s Massive Venus Oil Discovery
Dutch offshore production specialist SBM Offshore is positioning itself for a major opportunity in Namibia’s ultra-deepwater Venus oil discovery in the Orange Basin, with Chief Business Officer Olivier Icyk confirming the company’s growing interest and ambitions to build an in-country presence.
French energy major TotalEnergies is targeting a final investment decision on Venus by 2026 and has already incorporated specifications for a Floating Production, Storage and Offloading vessel into its development plan. The Venus project is set to become one of the world’s largest FPSO projects, with first oil projected in the second half of the decade.
SBM Offshore’s strategic positioning leverages its proven track record in Brazil and Guyana, where its Fast4Ward hull technology has delivered efficient production solutions. The company’s proactive approach signals readiness to compete for a leading role in the upcoming FPSO tender as Namibia rapidly emerges as a critical growth market for offshore oil development.
The move comes as international energy companies increasingly focus on Namibia’s promising Orange Basin, which has yielded several significant discoveries in recent years.
Source: namibiaoilandgas.com
