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6 Mar, 2023 15:57

Major oil discovery made in Southern Africa

It marks the third such find by a Shell-led consortium in same basin off the coast of Namibia
Major oil discovery made in Southern Africa

UK-based energy major Shell has announced the discovery of light oil in a deepwater exploration well off the coast of Namibia. It’s the third oil discovery in the African country since February 2022.

The company, which is exploring Namibia’s Orange Basin in cooperation with QatarEnergy and Namibia’s state oil firm NAMCOR, said the well was drilled to a total depth of 6,168 meters in water depth of 2,210 meters.

Shell also said further activities at the Jonker-1X exploration well are aimed at the assessment and gathering of dynamic data to determine the volume and recoverable potential of the discovery.

“We are encouraged by a further deep-water discovery, our third in Namibia, and pleased to confirm the safe conclusion of the well,” Shell’s country chair in Namibia said in a statement on Monday.

“Jonker again demonstrated the joint venture’s strong commitment to advancing oil and gas exploration in Namibia and to progressing follow-up opportunities after last year’s discoveries.”

In 2022, the partners made two discoveries in the same basin. Shell is the operator of the PEL 0039 license in the Orange Basin with a 45% working interest, while QatarEnergy and Namibia’s NAMCOR hold the remaining 45% and 10% respectively.

Last year, TotalEnergies also made a major discovery of light crude with associated gas on the Venus prospect in the Orange Basin. The French energy multinational said Namibia’s Venus could be a “giant oil and gas discovery.” 

In October, Namibian petroleum commissioner Maggy Shino said the African nation may consider joining OPEC if the recent offshore oil discoveries prove to be large enough for commercial development.

For more stories on economy & finance visit RT's business section

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