Windhoek – Namibia has made its third light oil discovery off its coast in a year.
“We are delighted to announce this third oil discovery,” said state-owned National Petroleum Corporation of Namibia (NAMCOR), adding that further work was needed to determine the quality and size of the reservoir, located in deep water, some 270km offshore.
“This discovery has proven the exciting and world-class potential of the deep-water Orange Basin,” it said.
Shell and QatarEnergy each hold 45% interest in the joint venture, and NAMCOR has 10%.This is the second find by the joint venture.
The first was made in February 2022, which was followed a few weeks later by a discovery made by France’s TotalEnergies.
Follow African Insider on Facebook, Twitter and Instagram
Source: AFP
Picture: Unsplash
For more African news, visit Africaninsider.com
