Access Request:

Based on commentary from the TotalEnergies FY2025 earnings call and results materials, the path ahead to reaching FID in ’26 for the Venus oil discovery is now skewed more toward above-ground alignment than subsurface complexity or engineering risk. Management’s tone was notably constructive — reaffirming mid ’26 FID targeting — with this optimism reinforced by similarly positive forward signals from other IOCs active in Namibia’s offshore basin.