(3 minutes read)
The recent oil discoveries in Namibia could hold 11 billion barrels of reserves, more explicit numbers will be revealed following the finalisation of the appraisal campaign. This was revealed by National Petroleum Corporation of Namibia’s (NAMCOR) Acting Managing Director Shiwana Ndeunyema.
The recent oil discoveries in Namibia could hold 11 billion barrels of reserves, more explicit numbers will be revealed following the finalisation of the appraisal campaign. This was revealed by National Petroleum Corporation of Namibia’s (NAMCOR) Acting Managing Director Shiwana Ndeunyema.
Namibia’s notable discoveries include the Graff-1X, Venus-1X, Jonker-1X, and Lesedi-1X. These discoveries are the product of partnerships involving major industry players such as Shell, Qatar Energy, Total, and Impact, in conjunction with NAMCOR.The Graff-1X well, operated by Shell, Qatar Energy, and NAMCOR, alone holds an impressive 2.38 billion barrels of oil, with additional contributions from other wells.
The Venus-1X discovery, spearheaded by Total, Impact, Qatar Energy, and NAMCOR, is another standout achievement, boasting a remarkable 5.1 billion barrels of oil within the Venus Fan region.
Similarly, the Jonker-1X well, operated by Shell, Qatar Energy, and NAMCOR, contributes an estimated 2.5 billion barrels to Namibia’s reserves, further underscoring the nation’s energy potential. The Lesedi-1X discovery by Shell, Qatar Energy, and NAMCOR adds another 0.258 billion barrels to Namibia’s growing oil reserves.
Read Also:
https://trendsnafrica.com/galp-to-start-drilling-in-namibias-orange-basin-by-end-of-2023/
https://trendsnafrica.com/shell-makes-another-offshore-discovery-in-namibia/
Collectively, these discoveries signal Namibia’s promising role as a future oil and gas producer, with the capacity to significantly impact the global energy landscape. This comes as Namibia could register a gross domestic product (GDP) of U$37 billion at peak production level from the country’s newly discovered oil reserves. Namibia is poised to receive benefits of up to 54% when the production of the recently discovered oil reserves commences six years from now.
