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
13 May 2024
OPEC+ has huge amounts of spare capacity amid a tightening market, but nothing can be taken for granted given unclear economic trajectories and geopolitical unrest
13 May 2024
But optimism about island nation checked by competition around African upstream investment and history of false dawns
10 May 2024
The US’ contentious LNG permitting pause has prompted criticism from CEOs and wildly differing interpretations from politicians
9 May 2024
Pipeline boosts Canada’s oil industry by widening its export options, making it less reliant on US market and bringing Asia into the mix