Oil and Gas News: Namibia is Africa’s New Rising Star.

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In some recent exciting drilling news from your best oil and gas equipment supplier, Namibia’s state-owned oil company NAMCOR has made a third oil discovery with partners Shell and Qatar Energy in the Jonker-1X deepwater exploration well, in the Orange Basin offshore southern Namibia.

New discoveries could make Namibia, the southern neighbour of OPEC member Angola, another oil producer along the African Atlantic coast.

“We are delighted to announce this third oil discovery after the success of the Graff-1X and Venus-1X discoveries by Shell and Total Energy in 2022,” Immanuel Mulunga, managing director of NAMCOR, said in a statement.

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

Shell Namibia B.V and Qatar Energy each hold a 45% stake in the joint venture while state-owned NAMCOR has 10%.

Namibia aims to fast track the development of its first oilfield to have production by 2026 following a significant offshore discovery by Shell.

Shell said the exploration well off the coast of the southern African country had shown “encouraging” results with the presence of a working petroleum system with light oil.

“If we do this within the next four years that will be excellent for us. The Namibian government have pledged commitment to the joint venture . . . to ensure we expedite the field development so that we can produce as quickly as possible,” Maggy Shino, petroleum commissioner at the Ministry of Mines and Energy, said in the first official comments from the government since Shell’s announcement.

Shell’s Graff-1 well was drilled deep offshore in water of more than 5,000 metres.

Shino said it was too early to provide exact volumes of oil encountered at the Graff-1 well or whether the new discovery was sufficient to be a standalone project or will require further exploration in the area.

Total Energy is currently drilling another well, Venus, in a nearby block.

“Give us enough time and by May, June, we be able to have enough data accessed to be able to confidently let you know about the quantity we are talking about here,” she said.

Shell did not provide details on the size of the resource.

Shell holds a 45% stake in Petroleum Exploration License 39 (PEL 39) where the well is located. Qatar Energy also holds a 45% interest and the National Petroleum Corporation of Namibia (NAMCOR) holds the remaining 10%.

In recent years interest in Namibia’s offshore prospects have attracted many foreign companies including Exxon Mobil following discoveries in neighbouring South Africa as well as Brazil and Guyana, which share geological similarities.

Oil and Gas News from Quipsearch Oil and Gas Equipment Supplier 15th June 2023.