Shell Discovers More Oil Off Namibia
African nation becoming the latest global hotspot for giant oil finds.
Shell announced its oil discovery off Namibia in January and was “very encouraged by the early results” from the Graff-1 exploration well in the country’s Orange Basin, which “established a working petroleum system and the presence of light oil.”
Researchers at Wood Mackenzie believe the find could hold upward of 700 million BOE. Shell is currently drilling a second well at La Rona, an aggressive stepout which is likely to be appraising the discovery prior to confirmation of a potential commercial development.
Shell operates the Graff find with a 45% interest. Partners in the discovery are QatarEnergy (45%) and NAMCOR (10%).
Less than a month after Graff was announced, TotalEnergies reported that it had made a significant discovery of light oil with associated gas on the Venus prospect, in Block 2913B in the Orange Basin. The Venus 1-X well encountered around 84 m of net oil pay in a Lower Cretaceous reservoir. No resource estimates have been officially released.