Connect with us

Hi, what are you looking for?

World

Namibia expects more oil prospectors to follow Shell

-

Namibia's government said Tuesday it would soon accept more major oil companies into the country, a day after Shell announced it had bought two offshore blocks.

Petroleum commissioner Immanuel Mulunga told AFP the government was in the process of approving the arrival of two more, as yet unnamed international oil firms, amid the clamour to make the country's first major oil find.

Mulunga said the arrival of Shell would be a confidence boost for the sector and could act as a magnet for other international oil companies.

"For Shell to decide to return means that they have a lot of confidence in finding oil in Namibia. It is also a boost for Namibia," he told AFP.

The Southern African country announced on Monday that Shell Exploration and Production bought into two blocks, 2913A and 2914B off the southwest coast of the country.

Shell is not new to Namibia. In 2002, Shell said it was pulling out of the Kudu gas project due to poor drilling results.

Offshore exploration began in the late 1960's in Namibia and resulted in major gas finds, but so far no oil.

Brazilian oil firm HRT last year said finding large quantities of crude in Namibia is only "a matter of time", specifically pointing to the Orange Basin as an area with good source geology.

The petroleum commissioner could not confirm the total planned drills this year but said interest has increased after last year's HRT announcement of finding non-commercial oil.

Other companies with energy exploration licenses in Namibia include Spain's Repsol and Petrobras.

Namibia’s government said Tuesday it would soon accept more major oil companies into the country, a day after Shell announced it had bought two offshore blocks.

Petroleum commissioner Immanuel Mulunga told AFP the government was in the process of approving the arrival of two more, as yet unnamed international oil firms, amid the clamour to make the country’s first major oil find.

Mulunga said the arrival of Shell would be a confidence boost for the sector and could act as a magnet for other international oil companies.

“For Shell to decide to return means that they have a lot of confidence in finding oil in Namibia. It is also a boost for Namibia,” he told AFP.

The Southern African country announced on Monday that Shell Exploration and Production bought into two blocks, 2913A and 2914B off the southwest coast of the country.

Shell is not new to Namibia. In 2002, Shell said it was pulling out of the Kudu gas project due to poor drilling results.

Offshore exploration began in the late 1960’s in Namibia and resulted in major gas finds, but so far no oil.

Brazilian oil firm HRT last year said finding large quantities of crude in Namibia is only “a matter of time”, specifically pointing to the Orange Basin as an area with good source geology.

The petroleum commissioner could not confirm the total planned drills this year but said interest has increased after last year’s HRT announcement of finding non-commercial oil.

Other companies with energy exploration licenses in Namibia include Spain’s Repsol and Petrobras.

AFP
Written By

With 2,400 staff representing 100 different nationalities, AFP covers the world as a leading global news agency. AFP provides fast, comprehensive and verified coverage of the issues affecting our daily lives.

You may also like:

Social Media

Wanna buy some ignorance? You’re in luck.

Business

United Airlines CEO Scott Kirby said the carrier was reviewing recent incidents and would redouble safety initiatives as needed - Copyright AFP Logan CyrusUnited...

World

US President Joe Biden speaks during a reception honoring Women's History Month at the White House - Copyright AFP Brendan SMIALOWSKIDanny KEMPUS President Joe...

Business

A Milei marks 100 days in office, thousands protest his austerity measures - Copyright AFP Luis ROBAYOLeila MACORArgentina’s President Javier Milei has slashed public...