President Hage Geingob has confirmed the recent discovery of light oil made within the Orange Basin offshore south of Namibia.
President Hage Geingob in his State of the Nation Address on Thursday revealed that, as suggested by recent reports, Shell Namibia Upstream BV, in joint venture with Qatar Energy, have further drilled a second well, which is termed an appraisal well, to establish the quality and the extent of the reservoir.
“We also confirm that a further discovery of light oil with associated gas has been made in the Orange Basin by TotalEnergies. A comprehensive coring and logging programme designed to assess the commerciality of this discovery has been completed,” he said.
The Head of State added that TotalEnergies has started the preparation of appraisal operations to drill two approved wells, which will also determine the extent and commerciality of the discovery.
“These discoveries are driving renewed interest in oil and gas exploration off the coast of Namibia. Namibia is endowed with an unprecedented portfolio of opportunities to deepen and diversify our economic potential and we intend to move with lightning speed to capitalise on these endowments in a coordinated manner, in recognition of the urgent need to create more new jobs,” he said.
Geingob, while welcoming interest in Namibia’s mineral potential, reminded investors, both local and foreign, that Namibia is a jurisdiction that upholds the rule of law and that actions that are deemed to be in contravention of the laws will be dealt with accordingly.
Source: The Namibian Press Agency
