TotalEnergies has launched a bid process for a contract set to be worth more than $800 million to secure a rig to carry out development drilling on its huge Venus oil discovery offshore Namibia.

The move underpins the French supermajor’s plan to fast-track the exploitation of its multi-billion-barrel deep-water oil and gas find on the prolific Orange basin.

TotalEnergies increasingly bullish on development of largest oil discovery in global hotspot Namibia
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Multiple sources told Upstream that TotalEnergies is in the market to award a five-year development drilling contract, with the operator due to make a decision by the end of this year.