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 Namibia a good oil market?
Namibia has quickly become a highly attractive Exploration & Production market following oil discoveries made in 2022 and 2023 by oil majors TotalEnergies (Venus) and Shell (Graff and Jonker-1X) off the coast of Namibia. Galp Energia, leading a consortium with Namcor and Custos, has also confirmed oil discoveries off the coast of Namibia.
Which oil companies have drilled in Namibia?
UK-based Shell, which has drilled four exploration wells in the Atlantic Ocean off Namibia’s southern coast since 2021, received approval in June to drill 10 more. This year France’s TotalEnergies will spend $300mn — half of its global exploration budget — in the country.
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.