TotalEnergies’ trailblazing Venus discovery offshore Namibia could be the world’s largest deep-water field, with the potential to far surpass Buzios offshore Brazil where recoverable reserves stand at 11.3 billion barrels of oil equivalent.

Upstream broke the news about the Venus discovery on 23 February, with UK-based consultancy Wood Mackenzie later estimating its recoverable oil reserves to be at least 3 billion boe, with unknown volumes of gas.

But three sources familiar with the latest analysis of data from the Venus-1 wildcat said the huge structure’s recoverable reserves — which are now thought to straddle blocks 2913B and 2912 — could exceed 13 billion boe.