TOTALENERGIES' enormous Venus-1 discovery offshore Namibia holds at least 3 billion barrels of recoverable oil and is Sub-Saharan Africa's biggest ever oil find, according to a confidential report from an industry-leading consultant. Upstream broke the news on the huge discovery last week, just a month or so after revealing exclusively that Shell had also made a big oil discovery in Namibia with its Graff-1 wildcat. Venus' scale is such that the base-case scenario could see it producing about 250,000 barrels per day via a floating production, storage and offloading vessels with more FPSOs to follow. Huge reserve numbers are being bandied about for the ultra-deepwater find in the Orange basin, with one source familiar with the TotalEnergies find saying it is the largest discovery made by the French supermajor for some 20 years, Venus-1 was drilled to a total depth of 6296 metres by the drill-ship Maersk Voyager in Block 2913B, hitting 84 metres of net pay in a high-quality Lower Cretaceous sandstone reservoir that contains light oil and associated gas.
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