Galp Secures Rig for Orange Basin Exploration
Galp has secured a semi-submersible rig for the drilling of two wells at PEL-83 in the Orange Basin, Namibia.
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Galp has secured a semi-submersible rig for the drilling of two wells at PEL-83 in the Orange Basin, Namibia.
Namibia’s recent oil discoveries present a strategic opportunity for public and private sector collaboration with South Africa.
Shell, the National Petroleum Corporation of Namibia and QatarEnergy have announced Namibia’s third hydrocarbons discovery in the Orange Basin.
PCL Gathers 50% Seismic Data for Orange Basin, Shares Rise 10% Ahead of June Survey Competition for Potential Oil Reservoirs Comparable to Shell & TotalEnergies Discoveries
Chevron is set to join other majors such as TotalEnergies, ExxonMobil and Shell in Namibia’s offshore oil and gas rush with the acquisition of a stake in Block 2813B.
Recent discoveries of oil and gas in Namibia’s on- and offshore acreages suggest that the country will become a major hydrocarbons player in Africa.
Since large-scale oil and gas discoveries took place in the offshore waters of Senegal and Mauritania between 2014-2017, the entire MSGBC region has received growing interest from international investors.
Launched in February 2022, Angola’s 2021/22 licensing round has attracted proposals from Eni, TotalEnergies and Equinor. The eight-block bid round is part of a comprehensive, six-year licensing strategy led by the ANPG to stimulate a short-term increase in national production and replace the country’s existing reserves.
The MSGBC Basin offers many exploration and production opportunities.
Angola’s major basins hold sizable untapped reserves – estimated at 57 billion barrels of oil and 27 trillion cubic feet of natural gas – resulting in development opportunities across each stage of the exploration life-cycle.
