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Rosatom has revealed plans to commence uranium mining operations in Namibia by the year 2029. 

TotalEnergies is reportedly days away from conducting the first production test on its Venus oil discovery offshore Namibia.

The development, according to Upstream, comes amid hints that the thickness of hydrocarbon pay zones may be bigger than originally revealed, with the Deepsea Mira semi-submersible rig set to conduct a flow test.

This comes as the French energy giant has allocated almost 50% of its global exploration budget of N$5.5 billion (US$300 million) to Namibia this year, aiming to confirm the multibillion-barrel discovery in Block 2913B (PEL 56) located in the Orange Basin.

The Venus discovery is a light oil and associated gas field, located approximately 290 kilometers off the coast of Namibia, in a water depth of approximately 3,000 meters.

Block 2913B covers approximately 8,215 km² offshore Namibia, and TotalEnergies is the operator with a 40% working interest, alongside QatarEnergy with 30%, Africa Oil’s Impact Oil and Gas with 20%, and the National Petroleum Corporation of Namibia (Namcor) with 10%.

The ultra-deepwater Venus-1X exploration well, which was drilled to a total depth of 6,296 meters, was spudded at the beginning of December 2021, using the Maersk Voyager drillship.

Global research and consultancy group, Wood Mackenzie, has suggested that first oil could flow from Venus by 2028, through more than 35 production wells tied back to a leased floating production system (FPSO).

According to government estimates, the Shell and TotalEnergies discoveries have the potential to generate annual taxes and royalties ranging from N$60 billion to N$95 billion, with the ability to create 3,600 jobs at the peak of production.

Shell's chief executive, Wael Sawan, says he is "positive" about the results so far from its exploration and appraisal drilling campaign offshore Namibia.

Trade between Russia and Namibia significantly declined by about 41% last year due to geopolitical tension, an official has revealed.

The Ministry of Finance and Public Enterprises says it is finding it challenging to attract and appoint competent people to serve on the boards of public enterprises, despite following a public recruitment process.

The Tsumeb community has threatened to hold a protest on Monday to press Dundee Precious Metals (Dundee) to provide them with jobs during the smelter's scheduled maintenance shutdown.

The Brief set out to survey a basket of eight essential food items a shopper would probably buy monthly.  Three major wholesalers in Windhoek were chosen, namely: Metro, Windhoek Cash ‘n Carry and Wecke and Voigts.

Choppies Supermarket is July’s cheapest supermarket in The Brief’s monthly Grocery Basket price comparison exercise.

The Ministry of Mines and Energy has announced that petrol prices and diesel will remain unchanged for the month of August 2023.

The Namibian Standards Institution (NSI) has announced the appointment of Dr. Eino Mvula as Chief Executive Officer (CEO), effective from 01 July 2023.

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