Namibia, one of the world's most promising exploration hotspots, expects to produce its first oil by 2030.
One of the world’s exploration hotspots, Namibia, expects first oil from the recent major offshore discoveries by 2030, the country’s Petroleum commissioner Maggy Shino told Reuters on Wednesday. “For the oil project, deep water we are thinking of having an FPSO and then exporting the crude to the market,” the commissioner told Reuters on the sidelines of a petroleum conference in South Africa. Over the past two years, TotalEnergies and Shell have made large discoveries offshore Namibia.
“What we're most pleased about in Namibia is that we have so far out of the three exploration wells and the one appraisal well that we have drilled, we have had top-quartile well performance in every single one of our activities in Namibia,” Yujnovich said. Earlier this year, Shell, QatarEnergy, and Namibia's state oil firm NAMCOR discovered light oil in a deepwater exploration well. Last year, Shell and its partners made two discoveries in the same Orange basin.
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