The National Petroleum Corporation of Namibia (NAMCOR) highlighted Namibia’s regional petroleum potential during a technical session at the Namibian International Energy Conference on Tuesday.
Namibia is home to four recognized offshore basins and two onshore basins, in which more than 30 exploration wells have been drilled to date. The recent Venus-1 and Graff-1X discoveries by TotalEnergies and Shell, respectively, have confirmed a proven working petroleum system in Namibia’s deepwater setting.
“Success will not be made with Namibians alone, but with partnerships with international companies like TotalEnergies, Shell, ExxonMobil, Chevron and Galp,” said Victoria Sibeya, Executive: Upstream Exploration at NAMCOR. “In Namibia, there is huge potential for more hydrocarbon discoveries to be made.”
A working petroleum system has also been established in the Owambo Basin – one of Namibia’s most important onshore areas – through nearby drilling activities by ReconAfrica, as well as legacy fields. Monitor Exploration Limited is also targeting the Owambo Basin, with plans to acquire 200 line-km of 2D seismic and drill a two-well campaign in 2025/2026.
“We are inviting oil companies to join our onshore basin, and if discoveries are made, we already have a regulatory structure in place,” noted Frieda Thomas, NAMCOR Senior Geoscientist.
Going forward, a key focus for NAMCOR is to expand seismic data and geological understanding of its on- and offshore basins. The national oil company is currently undertaking extensive 2D seismic data reprocessing, including 30,000 line-kms in the Orange Basin that is 60% completed, as well as 14,000 line-kms in the Lüderitz Basin.
“Immediately after the [Venus and Graff] discoveries, we saw an influx of companies coming into Namibia. Over an 18-month period, we saw companies acquire almost 40,000 km of 3D seismic, almost exclusively in the Orange Basin,” said Martin Negonga, NAMCOR Asset Manager.
In addition to ensuring uniformity and consistency of seismic data packages, NAMCOR is looking to identify additional prospective areas on its operated license blocks. NAMCOR currently holds 31 active exploration petroleum licenses, one offshore production license and one reconnaissance license – of which it operates five licenses.
