Dutch Offshore Giant SBM Offshore Eyes Namibia’s Venus Oil Discovery

Dutch Offshore Giant SBM Offshore Eyes Namibia’s 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. Chief Business Officer Olivier Icyk confirmed the company’s growing interest in the project, highlighting ambitions to build an in-country presence.

French energy major TotalEnergies, targeting a final investment decision on Venus by 2026, has incorporated specifications for a Floating Production, Storage and Offloading vessel into its development plan. The Venus project is poised to become one of the world’s largest FPSO projects, with first oil projected in the second half of the decade.

SBM Offshore’s potential involvement would leverage its proven track record in Brazil and Guyana, where its Fast4Ward hull technology has delivered efficient production solutions. The company’s proactive positioning signals readiness to compete for a leading role in the upcoming FPSO tender as Namibia emerges as a critical growth market.

Source: Upstream Online