Namcor, Namibia’s National Petroleum Corporation, has unveiled plans to drill three new oil and gas wells by the first quarter of 2025.
Victoria Sibeya, Namcor’s Executive for Exploration Upstream, announced this exciting development at the African Energy Week 2024 conference.
The drilling will be carried out in partnership with major international oil companies, including Galp in Petroleum Exploration License (PEL) 83, Chevron in PEL 90, and Rhino Resources.
This collaboration is set to strengthen Namibia’s growing oil and gas industry and position the country as an important player in the global energy market.
The main goal of these drilling projects is to better understand how oil and gas flows in the areas discovered recently, while also identifying new reserves.
Namibia has attracted attention due to its offshore oil potential, especially after significant discoveries in the Orange Basin by companies like TotalEnergies and Shell.
These discoveries have led to a surge in interest from global investors eager to tap into Namibia’s untapped resources.
Namcor is also boosting its investment in seismic data and geological studies in key basins like the Orange Basin, Walvis Basin, Namibe Basin, and Lüderitz Basin.
These studies are essential for better understanding the geological makeup of these regions and identifying promising drilling sites.
Sibeya mentioned that detailed work is underway in the Walvis Basin as they finalize deals with Chevron for additional exploration activities.
The buzz around Namibia’s oil and gas sector is growing, as recent finds have made the country a potential new hotspot for energy production.
Partnerships with global firms bring valuable expertise and speed up the development of Namibia’s resources.
As these companies work alongside Namcor, there is a great opportunity for local knowledge transfer, which can help build Namibia’s skills and contribute to sustainable development.
Namcor’s drilling projects are also expected to create jobs and stimulate local economies. The demand for services related to oil exploration and production will likely grow, benefiting the local workforce.
As Namibia works to become a key player in the global energy market, these efforts are crucial for ensuring that the benefits of resource development reach local communities.
The planned drilling also fits with Namibia’s broader goals of increasing its share of renewable energy while exploring its oil potential.
The government is aiming to boost renewable energy production while tapping into its oil resources, which could help Namibia achieve energy security and diversify its economy.
As Namibia gets ready for these drilling activities, there is optimism about what they could mean for the country’s future.
If the wells are successful, they could lead to even more exploration and could transform Namibia’s economy by increasing its oil production.
Industry experts suggest that if current trends continue, Namibia might become a major oil producer in the next decade.
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