Namibia's exploration drive goes on despite setbacks
Drilling success remains elusive, but Namibia’s offshore is on the map once more for explorers
Namibia has no proven oil reserves, having been largely shunned by regional explorers over the years in favour of better-established hydrocarbons plays, such as its neighbour Angola. But the impact of a higher oil price and lower drilling costs means Namibia's upstream is finally getting some serious attention from drillers. ExxonMobil recently expanded its presence in offshore Namibia, agreeing in August to acquire a 30% stake in petroleum exploration license 44 (PEL 44), in the Walvis Basin offshore from Azinam, subject to final government and regulatory approvals. "It provides verification of our belief in the prospectivity in this region and importantly also confirms the significant sc
Also in this section
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
14 January 2026
Chavez’s socialist reforms boosted state control but pushed knowledge and capital out of the sector, opening the way for the US shale revolution
