Alvenco is led by Namibia’s former-Minister of Mines and Energy Tom Alweendo. (Image source: African Energy Chamber)

Namibia's exploration and production industry is drawing increased investments before it readies for production in 2029

It is emerging as the leading hydrocarbons producer from Africa as global oil giants and independents as well as local energy companies are investing in the country. These companies need expert advice to navigate Namibia's unique industry, and the newly launched Alvenco Advisory is addressing this need.

Led by Namibia’s former-Minister of Mines and Energy Tom Alweendo, the firm is a strategic advisory provider that generates investment pathways that will bring profit, inclusivity and sustainability. The firm's approach is collaborative as it works closely with the government stakeholders and private companies so that they step in sync with the country's energy goals through policy and regulatory support, strong alignment with national priorities, local stakeholder engagement and ESG focus as well as strategies for shared value and long-term returns. 

The advent of Alvenco Advisory couldn't have been more timely given the global rise of Orange Basin. Next year, TotalEnergies awaits reaching a final investment decision for its Venus discovery. Galp, on the other hand, has been reporting consistently good yields from the Mopane wells.

On the exploration front, Rhino Resources is making strides towards field development following a discovery at the Capricornus-1X well in April 2025 and the confirmation of a hydrocarbon reservoir at the Sagittarius-1X well in February 2025. Halliburton is set to drill two exploration wells at Block 2914 in PEL 85 while Stamper Oil & Gas Corp is also pursuing exploration projects in the Orange and Lüderitz Basins. Chevron is spearheading exploration in the Walvis Basin following its acquisition of an 80% stake in Blocks 2112B and 2212A. These investments seek to unlock a new hydrocarbon province in southern Africa.

“Namibia is on the cusp of extraordinary change. With major oil discoveries and bold steps into green hydrogen, we have a unique opportunity and responsibility to ensure that our natural resources uplift all Namibians. Alvenco Advisory will not only support global investors in Namibia, but ensure their investments unlock tangible opportunities for the people of Namibia. At Alvenco Advisory, we are committed to driving inclusive and sustainable projects. We are here to align the goals of governments and investing companies – if you’re investing in Namibia or thinking about it let’s talk," said Alweendo.

Rig141 has been booked again under a year-long extension.

Operations in the Gulf of Suez offshore Egypt continues as the Rig 141 by Shelf Drilling has been booked for another year by a 12-month extension

Worth around US$23mn, the rig will now be blocked untill February 2027. 

Shelf Drilling rigs are high in demand in West Africa as well. Last year the company bagged million dollar deals for campaigns in Nigeria and Angola. 

The rig will be used for drilling the Kharas appraisal well.

The Kudu appraisal well prepares for drilling as BW Energy, along with NAMCOR E&P, has contracted the Deepsea Mira semi-submersible rig for the campaign

The rig will also be used for drilling the Kharas appraisal well on the Kudu licence (PPL003) offshore Namibia in the Orange Basin, during the later part of 2025.

This comes as part of a rig-sharing agreement that was announced by Northern Ocean with Rhino Resources. The contract, entered into by BW Kudu Ltd, provides access to an in-country rig and an experienced services team with a strong track record in the Orange Basin, supported by a high level of local content.

BW Energy is the operator of the Kudu production licence (PPL003) with a 95% working interest. NAMCOR E&P, a subsidiary of the national oil company of Namibia, holds the remaining 5% carried interest.

The two subsea tie-back projects will deliver additional production. (Image source: TotalEnergies)

TotalEnergies has begun production from the Begonia and Clov Phase 3 offshore projects, leveraging ullage in the Pazflor and Clov floating production, storage and offloading units (FPSO) to add a total of 60,000 barrels a day of new production

These two subsea tie-back projects deliver additional production leveraging available capacity on existing FPSO’s and as such have low marginal costs and low carbon intensities.

TotalEnergies is an Operator with a 30% interest in Begonia, which is the first inter-block development on Block 17/06 in Angola. A project made possible thanks to good cooperation between the Angolan concession holder Agencia Nacional de Petróleo, Gás e Biocombustíveis (ANPG), the partners of the block 17/06, Sonangol E&P (30%), SSI (27,5%), ETU Energias (7.5%), Falcon Oil (5%), and the partners of block 17 also operated by TotalEnergies.

Located 150 kilometers off the Angolan coast, Begonia is a 30,000 barrels per day project consisting of five wells subsea tied back to the Pazflor FPSO.

With a 38% interest, TotalEnergies is also the Operator of Clov Phase 3, continued upsides on Block 17. The company has announced the first oil from the development, in agreement with ANPG and its partners Equinor (22,16%), ExxonMobil (19%), Azule Energy (15.84%) and Sonangol E&P (5%).

Located 140 kilometers from the Angolan coast, Clov Phase 3 is a 30,000 barrels per day project consisting of four wells subsea tie-back to the Clov FPSO.

“TotalEnergies, operator of Block 17 and 17/06, continues to actively deliver its low-cost and low-emissions developments to grow its upstream production by more than 3% in 2025,” said Nicolas Terraz, president exploration and production at TotalEnergies. “With Begonia and Clov Phase 3, we are leveraging available production capacity in existing FPSOs of Block 17 (Pazflor and Clov) while reducing costs and emissions.”

“Good news for the country, as those two First Oils will help Angola maintain its production levels above 1 million barrel per day. Begonia is the first project between Blocks in Angola with a significant component of Local Content and Clov 3 is a great achievement resulting from intense work between the concessionaire and the B17 contractor group, operated by TotalEnergies. Projects like these are extremely important as they prove the innovative spirit and dynamism of the oil sector in Angola,” said Paulino Jeronimo, chairman of the Board of Directors of the National Agency for Petroleum, Gas and Biofuels.