Shell Plc had on Wednesday, July 12, announced that it had successfully finished drilling a fourth exploration well, Lesedi-1X, in Namibia and that the presence of hydrocarbons had also been confirmed from it.
Shell and TotalEnergies have both contributed to the sudden skyrocketing of exploration activity in the country by their numerous oil and gas discoveries in recent years.
According to a statement on Wednesday, July 12, by Shell Plc, the presence of hydrocarbons had been confirmed after a successful fourth drilling. However, further tests are required to determine development potential.
Namibia’s national oil company, along with Shell’s partner company, QatarEnergy have since concluded plans to drill two additional wells in the country by the third quarter of this year.
The Namibian government had also endorsed a Shell application to drill additional 10 exploration and appraisal wells in the nation.
TotalEnergies had made an oil discovery in the Venus well in 2022, in Namibia’s Petroleum Exploration Licence (PEL) 56, and analysts at Barclays estimates that the well holds about 3 billion barrels of oil equivalent (boe).
