Singapore-based Yinson Production targets Africa's latest oil hotspot
Namibia could produce as much as 400,000 barrels per day by mid-2030s
Deepsea Mira rig. Photo source: Odjell Drilling
Yinson Production, the Singapore-based unit of Malaysian energy infrastructure group Yinson Holdings, will open an office in Namibia in January 2026 to tap into the country’s burgeoning oil and gas sector.
Namibia has emerged as an oil exploration hotspot following a series of offshore discoveries in recent years. Activity is concentrated in the Orange Basin, a deepwater zone approximately 250km off the southern coast, near the maritime boundary with South Africa. Energy majors including TotalEnergies, Shell, BP and Portugal’s Galp Energia all hold stakes in Namibian exploration projects. Commercial production is expected to begin by the end of the decade, with output projected to reach 300,000-400,000 barrels a day by the mid-2030s.
Yinson Production specialises in the design, construction, and operation of floating production, storage, and offloading (FPSO) vessels. Under its business model, Yinson retains ownership of these vessels and leases them to oil companies through long-term charter contracts. The FPSOs process and store oil or gas from undersea wells before transferring the output to tankers or pipelines.
As part of its push into Namibia’s oil industry, Yinson has signed a memorandum of understanding with the country’s Petroleum Training and Education Fund. Through this collaboration, Yinson will implement a series of training programmes to develop technical oil and gas skills for local individuals and companies.
Namibia’s oil boom kicked off in February 2022 when Shell struck oil at the Graff field, confirming the deepwater potential of the Orange Basin. TotalEnergies followed weeks later with an even larger discovery at the nearby Venus field. Galp Energia expanded the map in January 2024 with a third massive discovery at the Mopane field, north of the earlier finds. TotalEnergies tightened its grip on the sector in December when it secured a 40% operating stake in Mopane. The deal hands the French supermajor control of two of Namibia’s three biggest assets, allowing it to build a shared production hub to curb costs. The group expects to reach a final investment decision on the Venus project in 2026.
Yinson has been a player in the African market since 1995. Its most recent project is the FPSO Agogo in Angola, which started pumping oil for Azule Energy in July 2025. The vessel is the first of its kind to carry an offshore carbon capture and storage pilot unit. The group continues to operate other African assets, including the FPSO John Agyekum Kufuor in Ghana and the Abigail-Joseph in Nigeria.
References
'Exclusive: Shell hits oil and gas in Namibian offshore well', Reuters, 25 January 2022
'Namibia: TotalEnergies makes a significant discovery in offshore Block 2913B', TotalEnergies, 24 February 2022
'Oil exploration boom in Namibia', Reuters, 21 June 2024
'Big oil: Namibia oil riches may finally start to flow', Bloomberg, 28 July 2025
'After N$18 billion funding, Yinson Production eyes Namibia', Namibia Oil and Gas, 11 November 2025
'Yinson Production Namibia signs Memorandum of Understanding with Petroleum Training and Education Fund (Petrofund)', Yinson Holdings Berhad, 28 November 2025
'TotalEnergies secures operatorship of Namibia’s Mopane discovery in deal with Galp', World Oil, 9 December 2025
'TotalEnergies to become operator of Galp's Namibian offshore permit', Reuters, 9 December 2025
'Shell prepares to launch new drilling campaign offshore Namibia', Reuters, 11 December 2025
'Shell prepares for 10th well in Namibia’s PEL 39', Africa Oil + Gas Report, 16 December 2025
