Namibia’s upstream poised for growth
Discovery in the Orange basin confirms Namibia’s hydrocarbon potential, says the country’s NOC
Namibia’s frontier upstream sector continues to gather pace, following the discovery of oil in the offshore Orange basin. A joint venture comprising operator Shell (45pc), state firm QatarEnergy (45pc) and Namibia’s state-owned Namcor (10pc) discovered oil at the Graff-1 well in their PEL-39 licence area, “establishing the presence of a working petroleum system with light oil”, says QatarEnergy, adding they were “encouraged by the results”. Further exploration activity will follow to determine the size and recoverability of the reserves. “We hope that this discovery puts to rest doubts about the hydrocarbon potential of Namibia,” says Namcor managing director Immanuel Mulunga. Consultancy Fi
Also in this section
17 May 2024
The latest drought crisis is passing, but longer-term solutions are in motion, explains Panama Canal Authority Administrator Ricaurte Vasquez Morales
16 May 2024
Flat oil growth in 2024 highlights mounting industry problems
15 May 2024
Five years ago, Uzbekistan turned to a private company called Saneg to reverse the fortunes of its oil industry. Results so far are encouraging, and according to CEO Tulkin Yusupov, further progress is on the way
13 May 2024
But optimism about island nation checked by competition around African upstream investment and history of false dawns