TotalEnergies has pledged to channel about N$33 billion into the domestic economy through local procurement over the life of its proposed Venus oil project, while targeting thousands of jobs, specialised skills development, and a nationwide socio-economic investment programme worth at least N$827 million.
Responding from its Paris head office, the French energy giant recently outlined plans to increase Namibian participation in the oil and gas industry, promising opportunities for local workers, suppliers and businesses as the country prepares for the development of its offshore petroleum resources.
These commitments from the international oil major offer a glimpse of the potential domestic economic benefits of the emerging oil industry but also raise the stakes for government and the private sector to ensure local companies and workers secure meaningful participation, rather than remaining on the margins of the capital-intensive industry.
“Our objective is not only to develop energy projects, but also to help build a long-term industry in Namibia by increasing local participation across our operations, supply chain and leadership positions,” TotalEnergies stated. The company identified local employment, supplier development and skills transfer as the three pillars of its strategy, arguing that the benefits of offshore oil development should extend beyond production revenues and international investment.
Jobs on the horizon
In response to New Era, TotalEnergies said the Venus project could generate about 5 000 jobs during construction and operations, including direct, indirect, and induced employment. The company has set targets to increase Namibian participation to more than 50% of direct jobs by the end of construction and 90% during operations.
“This includes a growing share of Namibians in technical, engineering, procurement, specialist and management positions,” the company stated.
These targets could create a pathway for Namibians to move into highly specialised occupations traditionally dominated by experienced international personnel in the offshore petroleum industry. However, achieving these ambitions will depend on the availability of appropriately qualified workers, the transfer of technical expertise, and local training institutions’ ability to meet demanding international industry standards.
The emphasis on technical and management positions matters because the long-term value of oil discoveries will depend partly on whether Namibians acquire the expertise needed to manage and operate increasingly complex energy projects.
Business opportunity
For Namibian businesses, the biggest potential benefit could come from procurement. TotalEnergies estimates the Venus project could generate about US$2 billion, or about N$33 billion at the exchange rate cited by the company, in local spending over its lifetime. This expenditure could create opportunities for companies operating in logistics, engineering, transport, maintenance, information technology and professional services.
To help local businesses compete for contracts, TotalEnergies said it was establishing dedicated supplier development programmes, including a centralised supplier portal and transparent procurement processes.
“The project could generate around US$2 billion (N$33 billion at current rates) of local spending over its lifetime,” TotalEnergies stated, adding: “We are establishing dedicated supplier development programmes, including a centralised supplier portal and transparent procurement processes, to maximise opportunities for Namibian companies.”
This proposed spending could support business expansion, stimulate demand for local services, and create opportunities for smaller enterprises to enter supply chains beyond the petroleum sector. The extent of the economic benefit will depend on how much procurement is genuinely awarded to locally owned businesses and how effectively they can meet technical, financial, and operational requirements.
Venus Academy
Meanwhile, recognising the skills gap that could constrain local participation, TotalEnergies has outlined plans for a Venus Academy intended to become a national centre of competence for Namibia’s offshore industry. The proposed institution would combine a physical campus with partnerships involving vocational training centres and other educational institutions.
The ambition is to train about 1 000 Namibians annually, building a pipeline of workers to support offshore petroleum operations and related industries.
“The future Venus Academy … is designed to become a world-class training centre for Namibia’s offshore industry and a long-term national centre of competence, with the ambition to train around 1 000 Namibians per year,” TotalEnergies stated.
The company also supports Petrofund scholarships, delivers oil and gas courses in partnership with the University of Namibia (Unam), and has sponsored four young Namibians pursuing specialised master’s degrees at the IFP School in France.
N$827 million programme
Beyond employment and procurement, TotalEnergies stated it had already supported community initiatives before any oil production begins. These include renovating Lüderitz Secondary School, benefiting about 600 students; drought-relief programmes reaching more than 3 000 children; subsidised air connections between Windhoek and Lüderitz benefiting more than 9 000 passengers; and first-aid training for local communities.
The company also outlined a substantially larger socio-economic programme that would activate immediately after a Final Investment Decision (FID).
This entails a dedicated US$50 million (approximately N$827 million) that would be deployed to target beneficiaries across all 14 regions.
The programme would cover scholarships, school renovations, road safety, water and sanitation, access to energy, hospital upgrades and improved cardiac care capacity.
“Following a Final Investment Decision (FID), a dedicated US$50 million socio-economic programme would be deployed immediately, targeting beneficiaries across all 14 regions,” TotalEnergies added.
This proposed investment could extend the benefits of offshore development beyond coastal communities and the principal industrial centres, particularly if projects are selected according to clearly identified local needs.
However, funding remains conditional on the FID, making the programme’s timing and implementation dependent on the project’s progress.
Lasting prosperity
TotalEnergies has operated in Namibia since 1964 and currently runs 43 service stations, making it the country’s third-largest distributor of petroleum products. It also launched liquefied petroleum gas distribution in 2024.
As operator of the Venus and Mopane offshore discoveries, the company sits at the centre of Namibia’s ambitions to develop a domestic oil and gas industry.
The commitments outlined by the company offer the prospect of substantial economic opportunities, but their ultimate significance will be measured by tangible results such as jobs secured by Namibians, contracts awarded to local businesses, skills transferred to domestic workers and social investments delivered to communities.
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