UK-based global oil and gas major Shell has made its fourth oil discovery in the Orange Basin, offshore Namibia. The completion of drilling at the company’s Lesedi-1X well confirmed the presence of hydrocarbons, bringing the total oil discoveries made in the basin to five in less than two years.
The discovery follows successful finds made by Shell at the Graff-1X, La Rona and Jonker-1X wells in 2022 and 2023, respectively, as well as by French-based energy major TotalEnergies at the Venus-1X well.
While hydrocarbon deposits were confirmed at the Lesedi-1X probe, a statement released by Shell stated that “further evaluation is required to determine development potential.” Shell’s other three discoveries in the Orange Basin are estimated to hold up to 1.7 billion barrels of oil equivalent in reserves.
In March 2023, Shell and its partners in the Orange Basin – including energy major Qatar Energy and Namibian national oil company Namcor – announced plans to drill two more exploration wells in Namibia by the third quarter of 2023. The parties have also been granted a permit by the Namibian government to drill ten exploration and appraisals wells in the southern African country.