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Out of this world: TotalEnergies makes record-breaking Venus discovery in Namibia Page 2 of 5 Event: On 24 February, TotalEnergies (40%) and its partners QatarEnergy (30%), Impact Oil and Gas (20%) and Namcor (10%), announced a giant light oil and associated gas discovery offshore Namibia. Venus-1X was drilled to a total depth of 6,296 metres in ultra-deepwater in the Orange sub-basin. It encountered 84 meters of net pay in a high-quality Lower Cretaceous sandstone reservoir. The well surpassed its pre-drill recoverable estimate of between 1.5 and 2 billion barrels. We conservatively estimate recoverable oil volumes of over 3 billion barrels. This result follows Shell’s huge Graff discovery earlier this month, although Venus is set to become Sub Saharan Africa’s biggest ever oil discovery.