Business
Namibia’s Oil Exploration Shows Promise With Its Third Oil Discovery
Light oil has been discovered 270 kilometers (km) off the coast of Namibia, according to the National Petroleum Company of Namibia (NAMCOR) and its partners in the Jonker-1X deep-water exploration project, Shell and Qatar Energy.
The well was drilled in Orange Basin Block 2913A in 2914B (PEL 0039). The drilling process started in December 2022 and was successfully finished in early March 2023.
Namibia, an OPEC member Angola’s southern neighbor, might become another oil producer on the continent’s Atlantic coast if new finds are made.
NAMCOR and its partners discovered light oil using the Odfjell Deepsea Bollsta semi-submersible rig in Blocks 2913A and 2914B of the hydrocarbon-rich Orange Basin, offshore Namibia, at a total well depth of 6,168 meters at water depths of 2,210 meters.
“The encouraging results from the well are a geological testimony of the huge hydrocarbon potential in the deep-water play of the Orange Basin. We look forward to the appraisal activities and our collaborative relationship with our joint venture partners and our shareholder, the Government of the Republic of Namibia, to fully assess the commerciality of this major oil discovery,” said Victoria Sibeya the executive of Upstream Exploration, NAMCOR.
To analyze the hydrocarbon reserves existing in the project, NAMCOR, Shell, and QatarEnergy will drill further and examine the data obtained from the exploration project. Shell Namibia, the block’s operator, has 45% of the holding, followed by QatarEnergy with 45% and NAMCOR with 10%.
“We are delighted to announce this third oil discovery after the success of the Graff-1X and Venus-1X discoveries by Shell and TotalEnergies (TTEF.PA) in 2022,” the managing director of NAMCOR, Immanuel Mulunga, disclosed via a statement.
Namibia is one of the few African countries looking to make a push in the global oil market. Since the Russia/Ukraine conflict, oil explorations across Africa have skyrocketed, with the promise shown in countries like Uganda and Tanzania.
