What is the plan for the Namibian government & international oil companies?
The plan for the Namibian government, the International Oil Companies and our partners is to accelerate development of these discoveries and to see first oil in Namibia. We have commenced appraisal work on the Graff-1 and Venus-1 discoveries and the initial results have been very encouraging.
What is grape seed oil?
Grape seed oil (also called grapeseed oil or grape oil) is a vegetable oil derived from the seeds of grapes. A by-product of the winemaking industry, it is typically used for edible applications. Grape seed oil has a moderately high smoke point of approximately 216 °C (421 °F).
Is Namibia ready for the offshore hydrocarbon market?
We have only scratched the surface of the hydrocarbon basin in Namibia. The offshore market is ready – and not just the Orange basin. In terms of deep-water potential, the Lüderitz, Walvis and Namib Basins are highly prospective and share many characteristics of the Orange basin yet remain highly underexplored.
Why are oil companies flocking to Namibia?
Our Standards: The Thomson Reuters Trust Principles. Oil companies are flocking to Namibia, excited by the country’s plans to open up a major new frontier basin with recent offshore finds ranking among the largest this century.