{"id":11567,"date":"2022-02-07T14:28:41","date_gmt":"2022-02-07T14:28:41","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/shell-discovers-oil-analysis-to-continue"},"modified":"2022-02-07T15:17:55","modified_gmt":"2022-02-07T15:17:55","slug":"shell-discovers-oil-analysis-to-continue","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/shell-discovers-oil-analysis-to-continue","title":{"rendered":"Shell discovers oil, analysis to continue"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>THE National Petroleum Corporation of Namibia (Namcor), Shell Namibia Upstream BV and QatarEnergy announced on Friday that oil was discovered at the Graff-1 well, however, the exact quantity and value have not yet been determined.<\/b><\/p>\n

The deep-water exploration which started in December last year, yielded a discovery of light oil, it was announced.<\/p>\n

Last month, The Namibian reported that this discovery off the coast of Namibia was worth an estimated N$334 billion, depending on the quality of oil and whether or not the companies involved agree to commercialise.<\/p>\n

At the time, a source had said the discovery indicated one layer, at least 60 metres deep, of hydrocarbons which holds an estimated 250 to 300 million barrels of oil and gas equivalent.<\/p>\n

Estimated at average prices last month of US$88 per barrel, this added up to a reservoir worth over U$29 billion, equivalent to N$334 billion at the current exchange rate.<\/p>\n

New developments, however, have emerged.<\/p>\n

Making the announcement last week, Namcor’s Paulo Coelho said more extensive laboratory analyses must be conducted to gain a better understanding of the reservoir quality and potential flow rates achievable.<\/p>\n

\u201cWhile we can learn a great deal from the results of Graff-1, we anticipate that further exploration activity, including a second exploration well, will be required to determine the size and recoverable potential of the identified hydrocarbons,\u201d he said.<\/p>\n

The Graff-1 well has proved a working petroleum system for light oil in the Orange Basin, situated offshore Namibia about 270km from the town of Oranjemund.<\/p>\n

Drilling operations commenced in early December 2021, and were safely completed in early February 2022.<\/p>\n

\u201cWe hope that this discovery puts to rest doubts about the hydrocarbon potential of Namibia and opens a new dawn in the country’s future prosperity,\u201d said Namcor managing director Immanuel Mulunga.<\/p>\n

The discovery was made on the Petroleum Exploration Licence 39 (PEL 39), which is owned by Shell (45%) and Qatar Petroleum (45%), with Namcor owning the remaining 10%.<\/p>\n

PEL 39 lies in the south-western part of the Kudu Gas Project and in the same region as the TotalEnergies and ExxonMobil licensed areas.<\/p>\n

Mines and energy minister Tom Alweendo took to social media yesterday to say that the discovery is a beam of hope for the Namibian economy.<\/p>\n

\u201cI congratulate Shell, QatarEnergy and Namcor on their recent oil discovery offshore Namibia. It gives us a clear shot at reimaging our economy. When the time comes, it’s for us to think boldly in structuring a recovery model that’s in the best interest of all stakeholders,\u201d he said on Twitter.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. THE National Petroleum Corporation of Namibia (Namcor), Shell Namibia Upstream BV and QatarEnergy announced on Friday that oil was discovered at the Graff-1 well, however, the exact quantity and value have not yet been determined. The deep-water exploration which started in December last year, yielded a discovery of light oil, it was […]<\/p>\n","protected":false},"author":84,"featured_media":11566,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[234,236,233],"class_list":["post-11567","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nShell discovers oil, analysis to continue - Namibia<\/title>\n<meta name=\"description\" content=\"THE National Petroleum Corporation of Namibia (Namcor), Shell Namibia Upstream BV and QatarEnergy announced on Friday ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/shell-discovers-oil-analysis-to-continue\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shell discovers oil, analysis to continue\" \/>\n<meta property=\"og:description\" content=\"THE National Petroleum Corporation of Namibia (Namcor), Shell Namibia Upstream BV and QatarEnergy announced on Friday ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/shell-discovers-oil-analysis-to-continue\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-07T14:28:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-02-07T15:17:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/02\/img-6201380a3e8cc.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"629\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/shell-discovers-oil-analysis-to-continue#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/shell-discovers-oil-analysis-to-continue\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Shell discovers oil, analysis to continue\",\"datePublished\":\"2022-02-07T14:28:41+00:00\",\"dateModified\":\"2022-02-07T15:17:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/shell-discovers-oil-analysis-to-continue\"},\"wordCount\":434,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/shell-discovers-oil-analysis-to-continue#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/02\/img-6201380a3e8cc.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/shell-discovers-oil-analysis-to-continue#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/shell-discovers-oil-analysis-to-continue\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/shell-discovers-oil-analysis-to-continue\",\"name\":\"Shell discovers oil, analysis to continue - 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