HomeEnergyOil & GasNamibia Discovers Oil For The Third Time In Orange Basin

Namibia Discovers Oil For The Third Time In Orange Basin

NAMCOR, an oil company owned by the state of Namibia on Monday discovered oil with associates, Shell and Qatar Energy in the Jonker-IX coastal borehole in the Orange Basin nearshore southern Namibia.

The new discovery could make Namibia the neighbour on the South of OPEC member Angola, another oil manufacturer along the African Atlantic seaboard.

Speaking on the development through a statement, Immanuel Mulunga, Managing Director of NAMCOR, said, “We are delighted to report this third oil innovation after the accomplishment of the Graff-1X and Venus-1X revealing by Shell and TotalEnergies (TTEF.PA) in 2022.”

‘The amassed data is being reviewed, and more assessment tapping is planned to know the size and value of the oil finding,’ the statement added.

Shell Namibia B.V and QatarEnergy both have a 45% post in the shared investment while state-owned NAMCOR has 10%.

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