Middle East

Namibia aims to produce the first oil in history by 2026



February 7, 2022

Shell uses a Valaris DS 10 drillship to operate in Namibia-Image Credit: V. Tonic / MarineTraffic.com

Namibia aims to accelerate the development of the first oil field to begin production by 2026. Important next Offshore Discovered by Shell, Energy officials told Reuters on Monday.

Shell said on Friday that explorations off the coast of South Africa had “promising” results due to the functioning of the diesel oil system.

“If we do this within the next four years, it will be great for us. As the Government of Namibia, we have promised that the joint venture team will work hand in hand with them … Will develop to produce as quickly as possible to ensure that the field is promoted. ” Maggie Sino, oil commissioner for the Ministry of Mines and Energy, said in the first official comment from the government since Shell’s announcement.

Shell’s Graff-1 well was dug deep Offshore Underwater over 5,000 meters.

Shino said it was too early to provide the exact amount of oil encountered in the Graff-1 well, or the new discoveries were sufficient for an independent project, or further exploration in the area. Said if it was necessary.

TotalEnergies is currently drilling another well, Venus, in a nearby block.

“Give me enough time. By May of June, I’ll have access to enough data so that I can be confident about the amount I’m talking about here,” she says. I did.

The shell did not provide details regarding the size of the resource.

Shell holds a 45% stake in Petroleum Exploration License 39 (PEL 39), where the well is installed. Qatar’s state-owned oil company also holds a 45% stake, while the Namibian National Petroleum Corporation (NAMCOR) holds the remaining 10%.

Interest in Namibia in recent years Offshore Following discoveries in neighboring South Africa and in Brazil and Guyana, which share geological similarities, many foreign companies, including ExxonMobil, are forecasting.

(Report by Wendell Roelf in Cape Town and Ron Busso in London, edited by Jason Neely)

https://www.oedigital.com/news/494094-namibia-aims-for-first-ever-oil-output-by-2026-after-shell-offshore-find Namibia aims to produce the first oil in history by 2026

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