Sintana Energy Inc V.SEI

RE:RE:Sintana on Upstreamonline

[hikari]

MartinK wrote: https://www.upstreamonline.com/field-development/namibia-totalenergies-targets-180-000-bpd-fpso-for-huge-venus-project-with-sanction-eyed-for-late-2025/2-1-1634086

Namibia: TotalEnergies targets 180,000 bpd FPSO for huge Venus project with sanction eyed for late 2025

"TotalEnergies is looking to sanction the first phase of its huge Venus project offshore Namibia in late 2025, targeting production of as much as 180,000 barrels per day.

Venus is currently thought to hold about 2 billion barrels of recoverable oil, with chief executive Patrick Pouyanne making clear previously that it will be a phased development requiring multiple floating production, storage and offloading vessels.

Speaking to analysts today during the supermajor’s first-quarter results webcast, Pouyanne said: “We recently finished a positive appraisal well on Venus and we are targeting the end of 2025 for a final investment decision. We’re speaking of a development with around 150,000-to-180,000 bpd.”

“I am very comfortable to take an FID in Namibia… within (our) $18 billion capital framework per year. We can do it; it’s not a problem,” adding that: “I am not afraid to have one, two or three developments in Namibia.”
.....
I wonder if Total is greedy and is interested not only in the Venus Block ( which got 2 additional big prospects) respectively in the Block on the South African side. Or if they are interested in Sintana's 3 highly prospective blocks (whereas the Galp Block has already the Super giant discovery) or if the Americans like ExxonMobil, Chevron try to get these 3 blocks. The Qataris are smart and clever people. They teamed up with Shell and Chevron in Namibia. I wonder if other Arab heavy weights as Aramco or Adnoc intend to follow the same strategy as Qatar Energy. If yes, the US boys with other farm in partners should hurry up. The ultra cheap days are over. Perhaps we have cheap days now, but these days will be over too one day, I guess?