Namibia’s offshore oil and fuel trade is ready for important development in 2025, pushed by new licensing alternatives and an uptick in drilling actions, Petroleum Commissioner Maggy Shino introduced throughout a webinar hosted by the African Vitality Chamber, Wooden Mackenzie and Namibia’s Ministry of Mines and Vitality. The transfer is ready to draw recent funding because the nation cements its standing as one of many world’s most promising oil frontiers.
“We’re working in an open licensing regime and will probably be receiving functions shortly,” Shino said, noting that obtainable acreage spans deepwater, ultra-deepwater and shallow-water environments.
In the meantime, improvement is accelerating on two of Namibia’s most vital discoveries. TotalEnergies’ Venus venture in Block 2913B stays on observe for a remaining funding determination (FID) in 2026, with new information confirming higher density and permeability in comparison with surrounding blocks. On Galp’s Mopane discovery, Shino revealed that 3,500Km2 of high-density seismic information have been collected this week to refine quantity estimates and advance the venture towards FID.
On Shell’s PEL 39 discovery – the place the corporate just lately wrote down $400 million – the Commissioner mentioned Shell and its companions are analyzing information from the 9 wells drilled to this point to “guarantee we’ve got designed a pathway to improvement” and to find out the subsequent steps.
Namibia’s offshore basin stays vastly underexplored, regardless of its huge scale. “The size is gigantic – there’s 220,000 sq. kilometers of offshore license acreage,” mentioned Ian Thom, Analysis Director for Sub-Saharan Africa Upstream at Wooden Mackenzie. “With simply over 20 exploration and appraisal wells drilled, this space continues to be vastly underexplored.”
The size is gigantic – there’s 220,000 sq. kilometers of offshore license acreage
“The assets are positively there,” mentioned Verner Ayukegba, Senior Vice President of the African Vitality Chamber. “The large questions now revolve round sub-surface circumstances, fuel content material and the way greatest to commercialize these discoveries.”
Drilling exercise in Namibia is ready to ramp up in 2025, with seven wells anticipated this 12 months alone. BW Vitality plans to drill on the Kharas prospect throughout the Kudu license, whereas Rhino Sources awaits outcomes from two high-impact wells in PEL 85. In South Africa’s Orange Basin, TotalEnergies is predicted to drill in Block 3B/4B, and Shell might drill in an ultra-deepwater block close to the maritime boundary with Namibia.
On the Kudu license, Shino said that BW Vitality has “recognized new targets with upside potential – not just for fuel, but additionally for oil inside the principle space,” with two wells deliberate by year-end.
As Namibia advances towards first oil manufacturing, the federal government is dedicated to making sure that petroleum discoveries translate into long-term financial advantages for the nation. “We’re providing a sustainable working atmosphere, guaranteeing all discoveries are in a race to first oil whereas making an enduring influence on the native financial system,” mentioned Shino. Namibia’s steady financial system, trade alignment, respect for contract sanctity, expansive basins obtainable for exploration and dedication to delivering sustainable vitality assets place it as a pretty vacation spot for funding.
