TotalEnergies has hit a reservoir with a critical appraisal well on its huge, alluring Venus oil discovery offshore Namibia, with Upstream told the probe has met expectations.

Venus — and Shell’s earlier Graff discovery — generated huge excitement when it was found last year in Block 2913B of the Orange basin, with market speculation emerging at the time that it could hold 12 billion barrels of oil and many trillions of cubic feet of gas.

TotalEnergies has tried to dampen resource expectations, but its decision to spend