FEED work “could facilitate” a final investment decision (FID) on Preowei, Africa Oil, said.
The block is to the north of Block 2913B, where TotalEnergies has made discoveries including Venus.
The company holds Block 2914B, next to Shell’s Block 2914A. Galp is to the north, at PEL 83, where it intends to begin drilling on the Mopane complex this month.
The company had made a commitment to spend $31mn on the Chiapas blocks by February 2024.
“The significant prospectivity of PEL 83 together with its relatively shallower water depth, position it to be one of the most significant and profitable developments in the Orange Basin,” he added.
“For me, it’s easier to develop offshore projects than onshore projects. Onshore there are stakeholders, who are more complex to manage.”
Total has two rigs working in Namibia, with the Tungsten Explorer and the Deepsea Mira. A recent update from Vantage Drilling reported Total had extended the contract on the Tungsten Explorer into the second quarter of 2024.
It’s touted by some as possibly the world’s biggest-ever deep-water oil find.
“Unless Namibia puts together a narrative to win the energy transition war, [the country’s] oil will remain in the ground.”
"Ms. Hill’s experience in the African energy sector will be invaluable to the Board as we build out our business and grow the Company.”
In March, Global said the Marula prospect may contain 411 million barrels, under an unrisked gross prospective resource. Welwitschia Deep may hold 881mn barrels.
“In September we’ll have the results of the first test, which is very important. Productivity per well is important, if it’s 15,000 barrels per day it’s fine, if it’s five, it’s not fine.”
Namcor was on the hook for $10 million. However, when the time came to pay up, it became apparent that Sequa had no funds and Petrolog only $6mn.
Namibia has recently gained significant attention as a result of the offshore discoveries by TotalEnergies and Shell in 2022. Namibia seems on its way to becoming a major oil and gas producer.
ReconAfrica said the ECC would allow it to drill exploration and appraisal wells in the Kavango Basin, from this month until July 2026.
Latham said the industry admired “operators who can not only open new frontiers, but also find large volumes of advantaged resources. TotalEnergies recent efforts and discoveries have been excellent examples of both trends.”
For Hyphen, the opportunity is in Europe and Asia, specifically Japan and South Korea. These markets have set targets to shift to hydrogen, but have limited domestic capacity to produce their own supplies.
Hyphen CEO Raffinetti said the company aimed to provide a “first supply of ammonia from our project into Europe by early 2028”. It aims to reach 2mn tpy of ammonia by 2029.
Mantashe made it clear that he blamed foreign-funded NGOs for the slow process of development. “They block development in our country”.
“From a market perspective, there’s a lot more interest in buying barrels at the right price, but there’s still appetite for exploration, particularly in sub-Saharan Africa.”
The Hercules is undergoing a special survey in Norway ahead of mobilisation to Canada. After Canada, it will re-cross the ocean and head to Namibia.
Total spudded the Venus-1A well on March 4. It will also re-enter the original discovery and test both wells.
Nigeria’s emissions are 16 kg of CO2 per barrel and Angola’s 17 kg, while on the shelf they rise to an average of 33 kg.
The opposition party, the Popular Democratic Movement, called for the government to suspend Mulunga last week. The party also said it would seek a parliamentary investigation “into what appears to be mafia-style corporate governance at Namcor”.
Comalie seems to have asked Mulunga to discipline Willemse, who was involved in the plan to tap the fuel, stored at Walvis Bay. “He may have thought this was a loan, but it is really theft”, Comalie told Mulunga, according to New Era.