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National Petroleum Corporation of Namibia (NAMCOR) says the presence of three oil rigs in Namibian waters carrying out exploration work is a record for the country. According to global energy technology company, Baker Hughes Inc, Namibia now accounts for about 13% of all offshore rigs operating on the continent.
National Petroleum Corporation of Namibia (NAMCOR) says the presence of three oil rigs in Namibian waters carrying out exploration work is a record for the country. According to global energy technology company, Baker Hughes Inc, Namibia now accounts for about 13% of all offshore rigs operating on the continent.
This comes as the Deepsea Mira entered Namibian waters and is preparing to start work for TotalEnergies, according to ship-tracking data and the French oil major is already using the Tungsten Explorer for a multiwell program in Namibia’s waters. TotalEnergies will spend N$5.5 billion (US$300m) on appraising its Venus discovery in the Orange Basin with the mobilisation of two drilling rigs and the drilling of 10 exploration and appraisal wells within the block
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Deepsea Mira, is owned by Oslo Stock Exchange listed company, Northern Ocean Ltd, which entered into a N$1.7-billion contract extension with Shell Namibia Upstream B.V for continued work in the country using the Deepsea Bollsta. The subsidiary of multinational oil and gas company Shell Plc’s deal, which runs from December 2023 into June 2024, has an additional option for six months at a cost of N$1.6 billion. Increased oil exploration in Namibia comes after more N$30 billion has been invested by oil companies since independence towards exploration.
