The state-owned petroleum companies in Namibia, Shell (SHELL), NAMCOR, and QatarEnergy, said today that they have found a third petroleum resource in the Orange Basin, off the southern Namibian coast.
Namibia, an OPEC member, and Angola’s southern neighbor may soon join Angola as another oil producer on the continent’s Atlantic coast thanks to recent finds.
Chief Executive Officer of NAMCOR Immanuel Mulunga, affirmed in a statement launched today that: “We are thrilled to announce this third oil finding after the success of the Graff-1X and Venus-1X discoveries by Shell and TotalEnergies (TTEF.PA) in 2022.
More appraisal drilling is planned to ascertain the magnitude and potential of the discovery after the gathered data has been assessed, according to the statement.
In addition to Shell Namibia B.V. and QatarEnergy, who each control 45 percent of the joint venture, state-owned NAMCOR holds a 10 percent stake.