Meren Energy (formerly Africa Oil Corp) says TotalEnergies’ next possible drill target on Block 2912 in the Orange Basin has been identified as Olympe-1X.
This target makes up the next drilling campaign set to start during the fourth quarter of 2025.
Meren Energy has indirect interests in Block 2912 and Block 2913B through a 39.5% shareholding in its investee company Impact Oil & Gas Limited, which has a 9.5% interest in each block.
These blocks are operated by TotalEnergies (47.2% in Block 2912 and 50.5% in Block 2913B).
Other partners include QatarEnergy (28.3% in Block 2912 and 30% in Block 2913B) and Namcor (15% in Block 2912 and 10% in Block 2913B).
Block 2913B contains the world-class Venus light oil and associated gas field discovered by the Venus-1X well drilled in 2022, which encountered a high-quality light oil-bearing sandstone reservoir of lower Cretaceous age.
Three follow-on appraisal wells have de-risked the field, with the results supporting the Venus development case, with a final investment decision targeted for 2026.
TotalEnergies completed the latest exploration drilling campaign on April 25, 2025, with the drilling rig demobilised.
The Venus Field is expected to be the first development area in Block 2913B, with a development plan for up to 40 subsea wells tied back to a floating production, storage and offloading (“FPSO) platform that can handle a peak output of 160,000 barrels per day of oil.
The key near-term project preparation and decision-making processes involve Front-End Engineering Designs during the second and fourth quarters of 2025.
The company expects to submit the environmental social impact assessment report during the fourth quarter of 2025.
The final investment decision could be made during the first half of 2026.
