(This post is based on the slightly shortened article «Floating Dock Set to Anchor Namibia’s Oil Boom» by Eileen van der Schyff, journalist for the Namib Times.)

The FPSO contract, which is in the final tender phase, will play a critical role in unlocking the massive 2 billion barrels of recoverable oil lying 3,000 meters deep in the Orange Basin, off Namibia’s coast. (An FPSO is a floating oil production facility designed to process hydrocarbons at sea, store crude oil, and load it onto tankers for transportation. This technology is critical for remote offshore fields where building traditional seabed pipelines to shore would not be economically feasible.)

Using an FPSO can bypass the costly and time-consuming infrastructure that would be required for onshore processing. The Venus field is not only one of the deepest discoveries in Namibia’s waters, but also one of the most complex. Aside from oil, the field contains an estimated 8.7 trillion cubic feet of gas, presenting both a challenge and an opportunity.

These vessels offer a flexible and cost-effective solution for offshore oil and gas production. Especially for new markets like Namibia, where the infrastructure is still developing. Unlike traditional drilling rigs, FPSOs can be moved to other locations once a field is exhausted, making them a sustainable option for frontier energy developments.

TotalEnergies is expecting the first oil production for 2029.