{"id":67689,"date":"2024-04-27T06:29:53","date_gmt":"2024-04-27T06:29:53","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/oil-companies-to-double-down-on-namibian-exploration"},"modified":"2024-04-27T06:58:40","modified_gmt":"2024-04-27T06:58:40","slug":"oil-companies-to-double-down-on-namibian-exploration","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/oil-companies-to-double-down-on-namibian-exploration","title":{"rendered":"Oil companies to double down on Namibian exploration"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>Chevron, ExxonMobil, Galp Energia and more international oil companies shared plans to double down on exploration in Namibia while ensuring local participation.<\/p>\n

This was shared at the Namibian International Energy Conference in Windhoek on Wednesday.<\/p>\n

Having made Namibia\u2019s first hydrocarbon discovery more than 50 years ago, Chevron announced plans to drill an exploration well on Petroleum Exploration License (PEL) 90 this December after fast-tracking its 3D seismic acquisition campaign.<\/p>\n

\u201cWe entered the exploration license on PEL 90 in October 2022. By Q1 2023, we completed our 3D seismic acquisition, which is a record speed in Namibia. We are planning to drill our first exploration well this year, so from license execution to drilling a well, the timeline is two years,\u201d said Channa Kurukulasuriya, country manager for Namibia and Suriname, Chevron International Exploration and Production.<\/p>\n

ExxonMobil also expressed a commitment to expanding activities in Namibia and replicating the success of its model in Guyana \u2013 another frontier exploration hotspot \u2013 through early-stage engagement and collaboration with national regulators and ministries.<\/p>\n

\u201cIn Guyana, we have spent<\/p>\n

US$1.2 billion with local suppliers and we have over 1 500 qualified Guyanese suppliers and over 6 000 Guyanese workers contributing to these<\/p>\n

developments. That is the vision we seek to emulate in Namibia,\u201d said Richard Barke, director of South Atlantic Exploration, ExxonMobil Upstream.<\/p>\n

\u201cOil and gas will be a critical part of the global energy mix for years to come. We need to keep exploring,\u201d he added.<\/p>\n

\u201cWith each discovery, the reserves of the deposits that are being shown are getting better and better. Looking at the data at our disposal, this is just the beginning,\u201d said Ebson Uanguta, interim managing director of the National Petroleum Corporation of Namibia (Namcor).<\/p>\n

\u201cWe see these oil discoveries having a tremendous impact on GDP growth \u2013 the size of the economy is likely to triple.\u201d<\/p>\n

Meanwhile, Portuguese company Galp Energia, having recently concluded the first phase of its Mopane exploration campaign that yielded two light oil discoveries, weighed in on the potential impact of recent discoveries on local job creation and skill development.<\/p>\n

\u201cIn the [exploration campaign] we just finished, we had 56 Namibian companies operating with us. 15% of our workforce were Namibians and 25% of the total group were females. The impact we can bring is to help entrepreneurs create solutions and activities that will be utilised by the industry,\u201d said Adriano Bastos, head of Upstream Special Projects for Galp.<\/p>\n

\u201cThere are three main partnerships key to [fast-tracking production] \u2013 partnership on a technical basis with co-owners, Namcor and service providers to put technical acumen to work,\u201d said James Parr, vice president of New Ventures for Woodside Energy.<\/p>\n

\u201cThe second is partnership with the government, who sets the stage for us to flourish, and the third is with local communities as resource owners have to be part of this in order for business to flourish.\u201d<\/p>\n

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

Africa-Press – Namibia. Chevron, ExxonMobil, Galp Energia and more international oil companies shared plans to double down on exploration in Namibia while ensuring local participation. This was shared at the Namibian International Energy Conference in Windhoek on Wednesday. Having made Namibia\u2019s first hydrocarbon discovery more than 50 years ago, Chevron announced plans to drill an […]<\/p>\n","protected":false},"author":84,"featured_media":67688,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,236,233],"class_list":["post-67689","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nOil companies to double down on Namibian exploration - Namibia<\/title>\n<meta name=\"description\" content=\"Chevron, ExxonMobil, Galp Energia and more international oil companies shared plans to double down on exploration in Nam ...\" \/>\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\/oil-companies-to-double-down-on-namibian-exploration\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil companies to double down on Namibian exploration\" \/>\n<meta property=\"og:description\" content=\"Chevron, ExxonMobil, Galp Energia and more international oil companies shared plans to double down on exploration in Nam ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/oil-companies-to-double-down-on-namibian-exploration\" \/>\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=\"2024-04-27T06:29:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-27T06:58:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2024\/04\/sm_1714188380.126096.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"479\" \/>\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=\"3 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\/oil-companies-to-double-down-on-namibian-exploration#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/oil-companies-to-double-down-on-namibian-exploration\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Oil companies to double down on Namibian exploration\",\"datePublished\":\"2024-04-27T06:29:53+00:00\",\"dateModified\":\"2024-04-27T06:58:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/oil-companies-to-double-down-on-namibian-exploration\"},\"wordCount\":484,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/oil-companies-to-double-down-on-namibian-exploration#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2024\/04\/sm_1714188380.126096.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/oil-companies-to-double-down-on-namibian-exploration#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/oil-companies-to-double-down-on-namibian-exploration\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/oil-companies-to-double-down-on-namibian-exploration\",\"name\":\"Oil companies to double down on Namibian exploration - 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