The OPEC+ oil producers group, having lost Angola and other players in recent years, is eyeing Namibia for possible membership as it sets up what could be Africa’s fourth-largest output by the next decade, an African industry official and sources told Reuters.
Sintana Energy has provided an update regarding the ongoing exploration campaign on Blocks 2813A and 2814B located in the heart of Namibia’s Orange Basin, emerging as the one of the world’s most prospective oil and gas regions.
Namibian President Nangolo Mbumba has announced that the country will utilize Angola’s oil and gas framework as a guideline for industry development, underscoring Namibia’s commitment to strengthening bilateral cooperation with its regional neighbor.
Offshore Namibia, the success rate in offshore discoveries has been phenomenal so far.
This week, TotalEnergies and QatarEnergy said they were expanding their efforts to explore for oil and gas in the Orange Basin offshore Namibia.
In Uruguay, Brazil’s neighbor to the south, a subsidiary of Chevron entered in a deal this week to buy 60% and assume operatorship of an offshore exploration block.
(WO) – Reconnaissance Energy Africa Ltd. announced an operations update. ReconAfrica continues to pursue activities as it prepares to start a multi-well drilling campaign in 2024.
Portugal’s Galp Energia, the company that reported positive indications of hydrocarbons from an exploration well in Namibia’s Orange Basin, says it has invested more than N$7,2 billion towards upstream projects, including an exploration campaign in Namibia during 2023.
Custos Energy announced that the Mopane 2X exploration well located on blocks governed by Petroleum Exploration License 83 (“PEL 83”) in the heart of Namibia’s Orange basin has been spud.
Maggy Shino, the Petroleum Commissioner of Namibia’s Ministry of Mines and Energy, provided a comprehensive update on the nation’s oil and gas sector during a workshop session at African Energy Week (AEW) 2023 organized by the African Energy Chamber
Namibia could see an oil boom thanks to several major discoveries that suggest there could be more oil yet to come.
In June 2029, the Namibian government pays N$200 000 to 500 000 households from oil tax revenue. Desperate to win elections later that year, the ruling party raids the sovereign wealth fund and mortgages future oil revenue to afford the N$100 billion payout.