Pancontinental and Eco Atlantic - The last slices of the Orange Basin?, page-80

The barrel estimate just keeps going up...

Majors Set Sights on Southern Africa's Final Frontier

"Majors are looking to fast-track a string of oil and gas discoveries in deepwater off southern Africa, in what could be one of the industry's last frontier provinces.

For Total and Shell, Namibia’s deepwater Orange Basin offers access to some of the industry’s most advantaged barrels. The geology is good, the oil quality is light and not too sulfurous, and the companies stand to get payback in a relatively short period from their giant discoveries, Venus (Total) and Graff (Shell). The developments rank highly in both majors’ global portfolios, and they have quickly followed up initial discoveries in February with back-to-back exploration and appraisal drilling.

Total will re-enter and test production at Venus, on PEL 56, in early 2023 and drill a further well, Venus 2, up to 20 kilometers away from the discovery well. Namibian officials estimate Venus could hold as much as 12 billion barrels of oil equivalent. “It wouldn’t be hard to get to those numbers — the field is so massive,” one geologist said. Total also has an option to test the Venus West prospect, which could hold 3 billion boe."