What will Namibia expect from oil drilling in 2024?
While Namibia expects the announcement of concrete outcomes from the ongoing oil drilling off the country’s coast during 2024, a number of discoveries have been announced already this year.
Will Namibia’s offshore oil play turn into another large source of oil?
It is too early to tell whether the Namibian offshore oil play will turn into another large source of oil. But early indications suggest large finds in the hundreds of millions of barrels of recoverable oil, at least. Inevitably, the successes of Total, Shell and Galp will encourage large oil companies to direct more investment into exploration.
Does shell have a multiwell rig in Namibia?
The French oil major is already using the Tungsten Explorer for a multiwell program in Namibia’s waters, spending almost half of its exploration budget in the southwest African nation this year. Shell has the other rig, Deepsea Bollsta, under contract until June 2024, according to owner Northern Ocean Ltd.
How many barrels of oil has shell found in Namibia?
According to miningandenergy.com, petroleum commissioner Maggy Shino says Shell Namibia has found 200 million barrels at Graf-1 and another 300 million barrels at Jonker-1X. She also estimated that TotalEnergies holds two billion barrels of recoverable oil at its Venus discovery.
Which offshore rigs are still operating in Namibia?
Shell has the other rig, Deepsea Bollsta, under contract until June 2024, according to owner Northern Ocean Ltd. Namibia now accounts for about 13% of all offshore rigs operating in the continent, according to Baker Hughes Inc. Activity has grown steadily since a slump in 2020, when just single drill was operating in African waters.
Are three rigs a record for Namibia?
The three rigs are a record for the country, according to Victoria Sibeya, head of upstream for the National Petroleum Corporation of Namibia. The French oil major is already using the Tungsten Explorer for a multiwell program in Namibia’s waters, spending almost half of its exploration budget in the southwest African nation this year.