Namibia’s attractive oil prospects and favourable fiscal incentives have attracted a wealth of oil majors including TotalEnergies, Galp, Shell, QatarEnergy, Chevron, and ExxonMobil. In the Walvis Basin the Wingat-1 discovery, drilled by HRT in 2013, which encountered rich oil-bearing source rocks, recovering light and sweet crude oil.
Which oil company has made a third oil discovery in Namibia?
WINDHOEK, March 6 (Reuters) – Namibia’s state-owned oil company NAMCOR has made a third oil discovery with partners Shell (SHEL.L) and QatarEnergy in the Jonker-1X deepwater exploration well, in the Orange Basin offshore southern Namibia, it said on Monday.
Is offshore Namibia oil exploration a good investment?
With a coastline of almost 1,600 km, offshore Namibia oil exploration has become highly attractive in recent years for Major companies. Namibia’s attractive oil prospects and favourable fiscal incentives have attracted a wealth of oil majors including TotalEnergies, Galp, Shell, QatarEnergy, Chevron, and ExxonMobil.
Could new discoveries make Namibia a new oil producer?
New discoveries could make Namibia, the southern neighbour of OPEC member Angola, another oil producer along the African Atlantic coast.