Eureka! We have struck light oil
The National Petroleum Corporation of Namibia (NAMCOR), and its partners, Shell Namibia Upstream B.V and Qatar Energy have announced that the Graff-1 deep-water exploration well has made a discovery of light oil in both primary and secondary targets.
The state-owned oil company in a statement on Friday said the Graff-1 well has proved a working petroleum system for light oil in the Orange Basin, offshore Namibia, 270 km from the town of Oranjemund.
“We hope that this discovery puts to rest doubts about the hydrocarbon potential of Namibia
and opens a new dawn in the country’s future prosperity,” said NAMCOR Managing Director, Immanuel Mulunga.
According to the released statement in the coming months, NAMCOR will perform extensive laboratory analyses to gain a better understanding of the reservoir quality and potential flow rates achievable.
“Whilst we can learn a great deal from the results of Graff-1, we anticipate that further exploration activity, including a second exploration well, will be required to determine the size and recoverable potential of the identified hydrocarbons,” they concluded.