TotalEnergies has already adjusted its production profile to reflect Namibian realities. The company initially proposed a more aggressive development strategy with peak output of 200,000 barrels a day, but it has since revised that figure downward to 150,000 b/d. This reassessment is likely tied to the company’s broader strategy of prioritizing value over volume, aiming to sustain the production plateau for seven to eight years rather than pursuing rapid early gains (see chart). It also reflects an understa ...

Shrinking discovered volumes, rising oil and gas demand, and a renewed focus on energy security have driven the global oil and gas industry to refocus on frontier regions in pursuit of new discoveries essential for sustaining long-term growth. The peer group of six global majors – ExxonMobil, Shell, TotalEnergies, BP, Chevron, and Eni – is responsible for about 20% of the total conventional oil and gas volumes discovered since 2020. These companies possess the technical skills and financial muscle needed t ...