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.
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.
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.
How can Namibia contribute to the oil and gas value chain?
There are significant opportunities along the oil and gas value chain for Namibians to participate, especially in servicing the exploration sector. First, we need to build the capacity, both in the local workforce and in the institutions that will help oversee, develop, and regulate Namibia’s oil and gas industry.