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Friday, March 31, 2023

Namibia discovers third oil reserve in the Orange Basin

WINDHOEK, March 6 – Namibia’s state oil company NAMCOR made a third oil discovery with partners Shell and QatarEnergy at the Jonker-1X deepwater exploration well in the Orange Basin offshore southern Namibia. on Monday.

The new discoveries could make OPEC member Namibia, Angola’s southern neighbor, the next oil producer on Africa’s Atlantic coast.

“We are delighted to announce this third oil discovery following the success of the Graff-1X and Venus-1X discoveries by Shell and TotalEnergies ( TTEF.PA ) in 2022,” NAMCOR chief executive Immanuel Mulunga said in a statement.

The data obtained is being evaluated and further appraisal wells are planned to determine the size and potential of the discovery, the statement said.


Shell Namibia B.V and QatarEnergy each hold a 45% stake in the joint venture, while state-owned NAMCOR holds 10%.

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