Economy

Oil exploration boom in Namibia

Date: Jun 21, 2024

Namibia has become an oil exploration hotspot after several discoveries in recent years along its coast.

It has not yet produced any oil or gas, but oil majors such as TotalEnergies and Shell have made discoveries estimated at 2.6 billion barrels, with production in the southern African country expected from about 2030.

There have been discoveries in the Orange Basin and there are other prospective areas, including Luderitz, Kavango and Walvis basins.

--Reuters--

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