27 April 2018
Namibia's revival
The majors are starting to take strategic offshore positions
A lack of commercial discoveries and 2014's oil price crash collapse meant that Namibia's elevation to an African frontier hotspot, following promising drilling results, was short-lived. But the country's upstream is finally gaining attention again from the majors and new drilling is planned for later this year. ExxonMobil is the latest heavy hitter to expand its position in Namibia. At the end of January, Portugal's Galp announced that it was in the process of farming-down its Petroleum Exploration Licence (PEL) 82 in Namibia's Walvis basin to the supermajor, subject to regulatory approvals. The deal would leave both companies with a 40% stake in the licence, with Galp retaining operatorshi
Also in this section
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
19 November 2024
Energy minister says country is delaying first oil production until pipeline and refinery are ready
