Namibia needs to think boldly in structuring a recovery model amid oil discovery – official
The Minister of Mines and Energy, Tom Alweendo on Tuesday congratulated Shell, Qatar Energy and the National Petroleum Corporation of Namibia (NAMCOR) on their recent oil discovery offshore.
“The discovery gives us a clear shot at reimaging our economy,” he said in a statement, adding that when the time comes, Namibia will need to think boldly in structuring a recovery model that is in the best interest of all stakeholders.
Namibia’s Petroleum Commissioner, Maggy Shino also resounded the same words, applauding the joint venture parties on the successful and safe completion of the Graff-1 well.
NAMCOR on 4 February announced that the Graff-1 deepwater exploration well made a discovery of light oil in both primary and secondary targets in Namibia’s offshore Orange Basin, 270 km from the town of Oranjemund.
According to NAMCOR, drilling operations commenced in early December 2021 and were safely completed in early February 2022 and intensive laboratory analysis to gain a better understanding of the reservoir quality and potential flow rates achievable will take place in the coming months.