By Innocent Semosa  

The company, in collaboration with Qatar Energy and the Namibia National Oil Company, revealed that the resources found in Block P/E L39, discovered in 2022, are currently deemed commercially unviable.

This discovery, along with a nearby find by TotalEnergies, had attracted global attention, raising expectations for Namibia to become a key player in the oil and gas industry. However, Shell’s decision to abandon the project has dampened the country's prospects, as it lacks any active oil and gas production infrastructure.

Dr Victoria Nalule, Chief Executive Officer of Nalule Energy, described Shell’s move as a "major blow" to Namibia’s ambitions. She stressed that the country had been counting on the discovery to fuel economic growth, particularly through the development of its energy sector and the diversification of its economy.

Despite the setback, Nalule believes that Namibia’s offshore reserves remain promising. She noted that challenges like long rock permeability and high natural gas content could be overcome with the right strategies.

However, the government will need to reassess its energy and investment strategies, particularly in terms of energy security and infrastructure development. Civil rights activist and oil analyst IQ Breaks also expressed concerns about the broader implications of Shell’s decision, calling for greater transparency and more informed partnerships between oil companies and African nations.

Namibia's future energy ambitions will likely depend on innovation, collaboration, and a renewed focus on sustainable exploration.

--ChannelAfrica--