Latest news with #MaggyShino
TimesLIVE
13-05-2025
- Business
- TimesLIVE
TotalEnergies, BWEnergy set to decide on Namibia projects 'late next year'
Namibia expects French oil major TotalEnergies to take a final investment decision (FID) on its Venus discovery in the African country in the fourth quarter of 2026, the country's petroleum commissioner said on Tuesday. Maggy Shino said at a conference in Paris that she expects TotalEnergies to submit its first oilfield development plans for approval in June or July. Shino added that Namibia expected to finalise another field development plan with Norway's BWEnergy to develop the country's smaller Kudu gas field in June, with a FID also coming in late 2026. In January Shell wrote down its Namibia oil discoveries as uncommercial due to a high amount of gas in the fields, dampening initial enthusiasm that the southern African country, which has no hydrocarbon production, could become a major producer. TotalEnergies CEO Patrick Pouyanne has said he believes the French oil major can handle those geological challenges, but that a FID will depend on whether production costs can be kept under an internal requirement of $20 per barrel.
Yahoo
13-05-2025
- Business
- Yahoo
Offshore Oil Exploration Booms in Namibia with Key Decisions Looming
Namibia expects France's TotalEnergies and Norway's BW Energy to take final investment decisions on oil projects offshore the African country in late 2026, a senior Namibian official says. TotalEnergies is expected to submit this summer a field development plan for the Venus project, while BW Energy and Namibia are finalizing a plan to develop a smaller discovery, Maggy Shino, Petroleum Commissioner at the Namibian Ministry of Mines and Energy, said on Tuesday. Both TotalEnergies and BW Energy are set to make a final decision whether to proceed with the offshore field developments – which would be Namibia's first ever – in the fourth quarter of 2026, Reuters quoted Shino as telling a conference in Paris. In recent years, international majors have scaled back investments in Africa's legacy producers such as Nigeria and Angola, and have instead opted for exploration offshore Namibia, hoping it would be the next Guyana and the next major oil producer and exporter. TotalEnergies, Portugal-based energy firm Galp, and Shell have already made large discoveries offshore Namibia, kicking off the Namibian oil rush in 2022. However, in a recent setback, Shell wrote down $400 million over an oil discovery offshore in offshore block PEL39 in Namibia that 'cannot currently be confirmed for commercial development.' Despite the downgrade of the discovery, Namibia remains a frontier province which majors are considering exploring and developing. Chevron, for example, plans to begin drilling an exploration well offshore Namibia in 2026 or 2027. At TotalEnergies' Q1 earnings call, CEO Patrick Pouyanné said that the company's project in Namibia is feasible but faces challenges because of low permeability. TotalEnergies and Namibian authorities have started discussions about a possible development at Venus, Pouyanné said, adding that the supermajor could move with the project if it meets the rate of returns the company has set. By Michael Kern for More Top Reads From this article on
Reuters
13-05-2025
- Business
- Reuters
TotalEnergies set to take FID on Namibia Venus project late next year, minister says
PARIS, May 13 (Reuters) - Namibia expects French oil major TotalEnergies ( opens new tab to take a final investment decision on its Venus discovery in the African country in the fourth quarter of 2026, Namibia petroleum commissioner Maggy Shino said on Tuesday. She told a conference in Paris that TotalEnergies was expected to submit its first oilfield development plans for approval in June or July.
Zawya
07-05-2025
- Business
- Zawya
Invest in African Energy (IAE) 2025: Namibia's Petroleum Commissioner to Highlight Energy Investment Potential
Namibia's Ministry of Mines and Energy Petroleum Commissioner, Maggy Shino, will speak at the Invest in African Energy (IAE) 2025 forum in Paris, offering insights into the country's rapidly evolving hydrocarbon sector and the broader opportunities it presents for upstream investment and partnerships. Namibia has solidified its status as a premier frontier market, with a string of high-impact discoveries in the Orange Basin driving global investor interest. Galp's Mopane series of light oil finds – estimated to hold at least 10 billion barrels – alongside TotalEnergies' Venus and Shell's Graff discoveries, have positioned the basin among the most prospective in the world. Rhino Resources announced a discovery with its Capricornus-1X well in April 2025, following confirmation of a hydrocarbon reservoir with the Sagittarius-1X well in February. First oil from the Venus field – estimated to hold over five billion barrels of in-place resources – is targeted by 2030, with efforts underway to accelerate the development timeline. IAE 2025 ( is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 14-15, 2025 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit To sponsor or participate as a delegate, please contact sales@ Beyond the Orange Basin, Commissioner Shino will spotlight exploration activity in other emerging basins, including Chevron's acquisition of an 80% operating stake in Blocks 2112B and 2212A in the Walvis Basin, underpinned by extensive seismic coverage. In the onshore Kavango Basin, ReconAfrica is advancing its 2024 drilling campaign targeting an estimated 3.4 billion barrels of recoverable oil in the Damara Fold Belt, with preparations currently underway to spud a second exploration well. Namibia's recently implemented open-door licensing system further enhances the investment climate, offering streamlined access to upstream opportunities and flexible entry points for new and existing players. 'Namibia continues to command international attention as a frontier leader in upstream development. Commissioner Shino's insights into new licensing, acreage availability and basin activity at IAE 2025 offer investors a rare opportunity to engage directly with the driving force behind Namibia's energy boom,' says Sandra Jeque, Event&Project Director, Energy Capital&Power. Distributed by APO Group on behalf of Energy Capital&Power.
Zawya
20-03-2025
- Business
- Zawya
Namibia Unveils Offshore Drilling Plans, New Licensing Opportunities
Namibia's offshore oil and gas industry is set for significant growth in 2025, driven by new licensing opportunities and an uptick in drilling activities, Petroleum Commissioner Maggy Shino announced during a webinar hosted by the African Energy Chamber ( Wood Mackenzie and Namibia's Ministry of Mines and Energy. The move is set to attract fresh investment as the country cements its status as one of the world's most promising oil frontiers. 'We are operating in an open licensing regime and will be receiving applications shortly,' Shino stated, noting that available acreage spans deepwater, ultra-deepwater and shallow-water environments. Meanwhile, development is accelerating on two of Namibia's most significant discoveries. TotalEnergies' Venus project in Block 2913B remains on track for a final investment decision (FID) in 2026, with new data confirming better density and permeability compared to surrounding blocks. On Galp's Mopane discovery, Shino revealed that 3,500Km 2 of high-density seismic data were collected this week to refine volume estimates and advance the project toward FID. On Shell's PEL 39 discovery – where the company recently wrote down $400 million – the Commissioner said Shell and its partners are analyzing data from the nine wells drilled so far to 'ensure we have designed a pathway to development' and to determine the next steps. Namibia's offshore basin remains vastly underexplored, despite its enormous scale. 'The scale is enormous – there's 220,000 square kilometers of offshore license acreage,' said Ian Thom, Research Director for Sub-Saharan Africa Upstream at Wood Mackenzie. 'With just over 20 exploration and appraisal wells drilled, this area is still hugely underexplored.' 'The resources are definitely there,' said Verner Ayukegba, Senior Vice President of the African Energy Chamber. 'The big questions now revolve around sub-surface conditions, gas content and how best to commercialize these discoveries.' Drilling activity in Namibia is set to ramp up in 2025, with seven wells expected this year alone. BW Energy plans to drill at the Kharas prospect within the Kudu license, while Rhino Resources awaits results from two high-impact wells in PEL 85. In South Africa's Orange Basin, TotalEnergies is expected to drill in Block 3B/4B, and Shell may drill in an ultra-deepwater block near the maritime boundary with Namibia. On the Kudu license, Shino stated that BW Energy has 'identified new targets with upside potential – not only for gas, but also for oil within the main area,' with two wells planned by year-end. As Namibia advances toward first oil production, the government is committed to ensuring that 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,' said Shino. Namibia's stable economy, industry alignment, respect for contract sanctity, expansive basins available for exploration and commitment to delivering sustainable energy resources position it as an attractive destination for investment. Namibia's exploration boom and available licensing opportunities will take center stage at African Energy Week (AEW): Invest in African Energies 2025, where government leaders, industry executives and investors will discuss the latest developments firsthand. With major discoveries advancing toward production and new blocks opening for investment, AEW offers unparalleled access to key decision-makers shaping Namibia's energy future. Distributed by APO Group on behalf of African Energy Chamber. AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event.
