Loading svg Please wait while we translate the article

Namibia: Africa's oil hotspot

Significant discoveries made
American oil major Chevron is set to begin exploration in Namibia later this year, having signed a development deal in April.
STAFF REPORTER
Recent discoveries along Namibia’s coast have transformed the country into a major hotspot for oil exploration, according to the African Energy Council. Despite not having produced any oil or gas yet, oil giants such as TotalEnergies and Shell have made significant discoveries, estimated at 2.6 billion barrels of oil. These discoveries have been made in the Orange Basin, with other prospective areas including the Lüderitz, Kavango and Walvis basins.

American oil major Chevron is set to begin exploration later this year, having signed a development deal in April for an 80% operating working interest in an offshore block in the Walvis Basin. Chevron Namibia Exploration Ltd is also the operator of petroleum exploration licence (PEL) 90, an offshore deepwater block in the Orange Basin.

Meanwhile, Azule Energy - a joint venture between Italy’s Eni and BP for their Angolan assets - and exploration firm Rhino Resources Namibia have agreed to a farm-in agreement for a 42.5% interest in an offshore Orange Basin licence.

In 2024, Portuguese energy group Galp carried out tests at its Mopane-1X and Mopane-2X wells, estimating that the Mopane field could hold at least 10 billion barrels of oil. Galp has launched the sale of half of its Mopane stake.

Shell and its partners made an “encouraging” discovery in an exploration well off the coast of Namibia in February 2022. Shell is exploring offshore oil and gas in PEL 39 and in the Orange Basin with joint-venture partners QatarEnergy and Namcor.

TotalEnergies agreed to acquire additional interests in Block 2913B and Block 2912 in January. The company plans to spend about 30% of its US$1 billion exploration and appraisal budget in Namibia in 2024. TotalEnergies aims to approve its first oil development in Namibia by the end of 2025, focusing on the Venus 1-X well in Block 2913B within the Orange Basin. This while Namibia plans to commence oil production from Venus, estimated to hold around 5.1 billion barrels of oil, between 2029 and 2030.

Kommentar

Allgemeine Zeitung 2024-11-05

Zu diesem Artikel wurden keine Kommentare hinterlassen

Bitte melden Sie sich an, um einen Kommentar zu hinterlassen

Premier League: Fulham 2 vs 1 Brentford | Manchester United 1 vs 1 Chelsea | Tottenham Hotspur 4 vs 1 Aston Villa | Wolves 2 vs 2 Crystal Palace | Southampton 1 vs 0 Everton | Nottingham Forest 3 vs 0 West Ham | Liverpool 2 vs 1 Brighton | Ipswich Town 1 vs 1 Leicester City | Bournemouth 2 vs 1 Manchester City | Newcastle 1 vs 0 Arsenal Katima Mulilo: 22° | 38° Rundu: 22° | 36° Eenhana: 20° | 36° Oshakati: 21° | 35° Ruacana: 20° | 36° Tsumeb: 24° | 33° Otjiwarongo: 18° | 33° Omaruru: 19° | 35° Windhoek: 17° | 33° Gobabis: 16° | 35° Henties Bay: 13° | 19° Wind speed: 21km/h, Wind direction: SW, Low tide: 10:52, High tide: 05:12, Low Tide: 23:16, High tide: 17:15 Swakopmund: 14° | 15° Wind speed: 18km/h, Wind direction: W, Low tide: 10:50, High tide: 05:10, Low Tide: 23:14, High tide: 17:13 Walvis Bay: 13° | 19° Wind speed: 21km/h, Wind direction: W, Low tide: 10:50, High tide: 05:09, Low Tide: 23:14, High tide: 17:12 Rehoboth: 15° | 35° Mariental: 14° | 35° Keetmanshoop: 13° | 33° Aranos: 14° | 36° Lüderitz: 15° | 29° Ariamsvlei: 10° | 30° Oranjemund: 15° | 31° Luanda: 25° | 26° Gaborone: 19° | 36° Lubumbashi: 17° | 32° Mbabane: 12° | 22° Maseru: 6° | 26° Antananarivo: 17° | 28° Lilongwe: 24° | 33° Maputo: 18° | 26° Windhoek: 17° | 33° Cape Town: 13° | 22° Durban: 15° | 20° Johannesburg: 16° | 29° Dar es Salaam: 25° | 31° Lusaka: 21° | 35° Harare: 19° | 31° Currency: GBP to NAD 22.6 | EUR to NAD 18.99 | CNY to NAD 2.45 | USD to NAD 17.41 | DZD to NAD 0.13 | AOA to NAD 0.02 | BWP to NAD 1.26 | EGP to NAD 0.35 | KES to NAD 0.13 | NGN to NAD 0.01 | ZMW to NAD 0.63 | ZWL to NAD 0.04 | BRL to NAD 3 | RUB to NAD 0.18 | INR to NAD 0.21 | USD to DZD 132.44 | USD to AOA 909.05 | USD to BWP 13.33 | USD to EGP 49.07 | USD to KES 129.2 | USD to NGN 1664.36 | USD to ZAR 17.42 | USD to ZMW 26.95 | USD to ZWL 321 | Stock Exchange: JSE All Share Index Same 0 | Namibian Stock Exchange (NSX) Overall Index 1876.57 Up +0.49% | Casablanca Stock Exchange (CSE) MASI 14300.12 Up +0.21% | Egyptian Exchange (EGX) 30 Index 30650.04 Down -0.59% | Botswana Stock Exchange (BSE) DCI 9845.11 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 741.21/OZ UP +0.19% | Copper US$ 4.46/lb UP +1.09% | Zinc US$ 3 105.80/T UP 2.06% | Brent Crude Oil US$ 76.41/BBP UP +1.08% | Platinum US$ 995.32/OZ UP +1.50% Sport results: Premier League: Fulham 2 vs 1 Brentford | Manchester United 1 vs 1 Chelsea | Tottenham Hotspur 4 vs 1 Aston Villa | Wolves 2 vs 2 Crystal Palace | Southampton 1 vs 0 Everton | Nottingham Forest 3 vs 0 West Ham | Liverpool 2 vs 1 Brighton | Ipswich Town 1 vs 1 Leicester City | Bournemouth 2 vs 1 Manchester City | Newcastle 1 vs 0 Arsenal Weather: Katima Mulilo: 22° | 38° Rundu: 22° | 36° Eenhana: 20° | 36° Oshakati: 21° | 35° Ruacana: 20° | 36° Tsumeb: 24° | 33° Otjiwarongo: 18° | 33° Omaruru: 19° | 35° Windhoek: 17° | 33° Gobabis: 16° | 35° Henties Bay: 13° | 19° Wind speed: 21km/h, Wind direction: SW, Low tide: 10:52, High tide: 05:12, Low Tide: 23:16, High tide: 17:15 Swakopmund: 14° | 15° Wind speed: 18km/h, Wind direction: W, Low tide: 10:50, High tide: 05:10, Low Tide: 23:14, High tide: 17:13 Walvis Bay: 13° | 19° Wind speed: 21km/h, Wind direction: W, Low tide: 10:50, High tide: 05:09, Low Tide: 23:14, High tide: 17:12 Rehoboth: 15° | 35° Mariental: 14° | 35° Keetmanshoop: 13° | 33° Aranos: 14° | 36° Lüderitz: 15° | 29° Ariamsvlei: 10° | 30° Oranjemund: 15° | 31° Luanda: 25° | 26° Gaborone: 19° | 36° Lubumbashi: 17° | 32° Mbabane: 12° | 22° Maseru: 6° | 26° Antananarivo: 17° | 28° Lilongwe: 24° | 33° Maputo: 18° | 26° Windhoek: 17° | 33° Cape Town: 13° | 22° Durban: 15° | 20° Johannesburg: 16° | 29° Dar es Salaam: 25° | 31° Lusaka: 21° | 35° Harare: 19° | 31° Economic Indicators: Currency: GBP to NAD 22.6 | EUR to NAD 18.99 | CNY to NAD 2.45 | USD to NAD 17.41 | DZD to NAD 0.13 | AOA to NAD 0.02 | BWP to NAD 1.26 | EGP to NAD 0.35 | KES to NAD 0.13 | NGN to NAD 0.01 | ZMW to NAD 0.63 | ZWL to NAD 0.04 | BRL to NAD 3 | RUB to NAD 0.18 | INR to NAD 0.21 | USD to DZD 132.44 | USD to AOA 909.05 | USD to BWP 13.33 | USD to EGP 49.07 | USD to KES 129.2 | USD to NGN 1664.36 | USD to ZAR 17.42 | USD to ZMW 26.95 | USD to ZWL 321 | Stock Exchange: JSE All Share Index Same 0 | Namibian Stock Exchange (NSX) Overall Index 1876.57 Up +0.49% | Casablanca Stock Exchange (CSE) MASI 14300.12 Up +0.21% | Egyptian Exchange (EGX) 30 Index 30650.04 Down -0.59% | Botswana Stock Exchange (BSE) DCI 9845.11 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 741.21/OZ UP +0.19% | Copper US$ 4.46/lb UP +1.09% | Zinc US$ 3 105.80/T UP 2.06% | Brent Crude Oil US$ 76.41/BBP UP +1.08% | Platinum US$ 995.32/OZ UP +1.50%