MegaBanner-Right

MegaBanner-Left

LeaderBoad-Right

LeaderBoard-Left

Home » Industry News » Petrochemicals Oil & Gas » Shell finds hydrocarbons in Namibia exploration well

Shell finds hydrocarbons in Namibia exploration well

By Ron Bousso, Thomson Reuters.

SHELL has successfully completed drilling a fourth exploration well, Lesedi-1X, in Namibia that confirmed the presence of hydrocarbons.

Shell and France’s TotalEnergies have made several oil and gas discoveries off the coast of the southern African country in recent years, leading to a sharp increase in exploration activity there.

In a recent statement, Shell said data following the successful fourth drilling confirmed the presence of hydrocarbons, adding “further evaluation is required to determine development potential”.

Shell and its partners QatarEnergy and Namibia’s national oil company plan to drill two further wells in Namibia by the third quarter of this year, according to a filing to the government dated March.

The Namibian government has also approved a Shell application to drill another 10 exploration and appraisal wells in Namibia, a Shell spokesman said.

TotalEnergies made an oil discovery in February 2022 in the Venus well in Namibia’s Petroleum Exploration Licence (PEL) 56, which analysts at Barclays estimate holds 3 billion barrels of oil equivalent (boe).

Shell reported discoveries in the Graff, La Rona and Jonker wells in PEL 39, which together are estimated to hold 1.7 billion boe, according to Barclays.

To enquire about Cape Business News' digital marketing options please contact sales@cbn.co.za

Related articles

Urgent collaborative action needed by SA government to avert natural-gas supply crisis

Sasol, South Africa’s monopoly supplier of large-scale natural gas, announced in August 2023 that the supply of gas to industrial users will be suspended...

Where is the gas coming from?

Robin Hayes questions the economics of gas to power proposals of the new IRP. THE 2023 Integrated Resource Plan (IRP) released by the Department of...

MUST READ

WEG Africa’s new Cape Town premises reflect 30 years of growth

Celebrating 30 years since its inception, WEG Africa’s Cape Town branch can mark this achievement from its larger and improved premises in Richmond Business...

RECOMMENDED

Cape Business News
Follow us on Social Media