What You Need to Know
Total Energies and Chevron are competing for a 40% operational stake in the newly discovered Mobani oil project in Namibia. This discovery could position Namibia among the top 15 global oil producers in the next decade, with an estimated 10 billion barrels of resources. Despite challenges, both companies have advantages in the region.
Africa. Total Energies and Chevron are leading the race for a 40% operational stake in the newly discovered Mobani oil project in Namibia, according to a local source citing informed sources.
This discovery represents a potential turning point for Namibia, a country that has yet to join the ranks of oil and gas producers but could become one of the top 15 global producers within the next decade due to a series of significant offshore discoveries.
The Mobani field alone is estimated to contain at least 10 billion barrels of resources, making it one of the largest discoveries on the African continent.
Despite the enthusiasm shown by global energy companies, Namibia’s geology has posed challenges for some investors, as Shell had to write off some of its discoveries as commercially unviable.
However, Total and Chevron already hold stakes in fields near Mobani, giving them a competitive edge and increasing their chances of successfully developing the project.
African Context
Africa has provided between 25% and 40% of Total’s oil and gas production over the past two decades, but the company’s projects in Mozambique and Uganda face financial and security obstacles.
In Namibia, Total operates the Venus project at a capacity of 150,000 barrels per day, but the high gas content in the field complicates oil extraction.
Chevron is seeking to revive its exploration activities, although its recent drilling in the Orange Basin did not yield commercial reserves; however, it provided valuable data for future assessments.
This race comes at a time when major energy companies are looking for new discoveries to offset challenges they face in other regions, while Namibia sees these investments as a strategic opportunity to change its economic position on the global energy map.
If these projects succeed in reaching production stages, the country could witness a radical transformation in its economic structure and geopolitical standing in the coming years.
Africa has contributed between 25% and 40% of Total’s oil and gas production over the past two decades. However, Total’s projects in Mozambique and Uganda face financial and security hurdles. In Namibia, Total operates the Venus project at 150,000 barrels per day, but high gas content complicates oil extraction. Chevron aims to revive its exploration activities despite recent setbacks in the Orange Basin, viewing this as a strategic opportunity for future assessments.
The race for the Mobani project comes as major energy companies seek new discoveries to offset challenges in other regions. Namibia sees these investments as a strategic chance to enhance its economic position on the global.
