As Namibia targets first oil production by the end of the decade, collaboration among international operators, independents and national partners is emerging as a defining feature of the country’s upstream development. According to African Energy Chamber, high capital requirements, deepwater complexity and long project timelines are driving partnership-led approaches across Namibia’s offshore acreage, particularly in the Orange and Walvis basins.

Most of Namibia’s offshore blocks are held through joint ventures that combine the technical depth and balance sheets of major oil companies with the agility of independents and local participation. This structure has helped spread risk, accelerate appraisal activity and attract sustained investment as the country transitions from a frontier exploration market toward potential production.

One of the most advanced developments is the Venus discovery in PEL 56, operated by TotalEnergies. The project is progressing toward a potential final investment decision in 2026, with first oil targeted for 2029 or 2030. The license is held by TotalEnergies alongside QatarEnergy, Namcor and Impact. In late 2025, Galp acquired a 10% stake in PEL 56 as part of a broader transaction that also granted TotalEnergies operatorship of PEL 83, which contains the Mopane discovery. An exploration and appraisal program covering both licenses is expected to begin in 2026, including three planned wells over a two-year period.

Recent merger and acquisition activity further reflects growing confidence in Namibia’s upstream potential. In September 2025, Oregen Energy increased its stake in WestOil Limited, expanding its exposure to Block 2712A in the Orange basin ahead of a planned seismic and farm-out program. During the same period, Eco Atlantic Oil & Gas secured license extensions across multiple Namibian permits and completed a farm-out of PEL 98, while Stamper Oil & Gas acquired BISP Exploration Inc., gaining interests across five offshore blocks.

Other transactions included Chevron acquiring an 80% stake in PEL 82 in the Walvis Basin and Sintana Energy expanding its Namibian footprint through the acquisition of Challenger Energy Group, adding eight offshore licenses to its portfolio.

Together, these deals underscore a broader strategy among operators to use farm-ins, joint ventures and portfolio consolidation to advance exploration and appraisal activity while managing exposure. As drilling programs progress and development planning accelerates, collaboration is expected to remain central to Namibia’s effort to unlock its offshore resources and move toward first oil.