Namibia Weighs Incentives to Kickstart Total’s Offshore Oil Plan

Namibia will offer financial incentives to help kick-start the development of oil fields managed by a group led by TotalEnergies SE, according to a special adviser in the presidency.

TotalEnergies and Shell Plc in 2022 made the first in a series of finds off the coast of the southwest African nation. But the explorers have also hit dry wells, prompting them to write off drilling costs as they learned more about the fields.