Namibia Mining and Energy’s Post

Shell prioritises derisking before major investment in Namibian activities Oil major Shell has announced a strategic emphasis on thorough derisking measures before committing significant capital investments in Namibia's offshore oil and gas sector. Shell's CEO Wael Sawan said the company's cautious stance towards exploration and development activities in the region, prioritises thorough risk assessment to safeguard shareholder interests. "Our objective is to tap into basins where we feel we possess a genuine competitive edge. This has been particularly evident in the Atlantic Basin, where we leverage resources from the Gulf of Mexico, Brazil, and Nigeria, extending our reach into places like Namibia. We intend to continue expanding in these areas, focusing our efforts where we can achieve the highest return on investment," he said during Shell’s first quarter 2024 results presentation. As part of its exploration programme, Shell is actively drilling both appraisal and exploration wells in Namibia. https://lnkd.in/dvGAXmU8 #oilandgas #namibia Namibia Petroleum Operators Association (NAMPOA) Tom Alweendo #orangebasin Namibia Investment Promotion and Development Board (NIPDB) #namibiaoilandgasnews

Portuguese oil and gas company Galp has made another oil discovery in license PEL 83 off the coast of Namibia, located close to recent discoveries made by Shell and TotalEnergies. This exploration campaign on blocks 2813A and 2814B located in the heart of Namibia’s Orange Basin, which is emerging as one of the world’s most prospective oil and gas regions, is being carried out with an Odfjell Drilling-managed semi-submersible rig. The reserves are estimated at approximately 10 billion barrels based on data from Galp Energia, which is exploring hydrocarbons in the area of the Orange River bordering South Africa, together with local firms Custos Energy and National Petroleum Corporation of Namibia. The obtained oil samples from test wells are characterized by low viscosity and low sulfur content, the newspaper notes. The Organization of the Petroleum Exporting Countries (OPEC) is currently reviewing Namibia’s application for membership. According to experts, in the near future the country may become fourth in Africa in terms of oil production. Like, Share, & Comment. Follow RHETORT for more posts like this. #TATHOTS #RHETORT #NAMIBIA vc is inset

Azule Energy in collaboration with industry giants Eni and bp is expanding its horizons into Namibia's offshore oil exploration sector! 🌊🛢️ Their recent agreement secures exploration rights in the Orange Basin of Namibia, marking a strategic move beyond their established operations in Angola. In partnership with Rhino Resources Ltd Namibia, Azule Energy has acquired a 42.5% stake in the PEL 85 petroleum exploration perimeter, with ambitious plans for drilling operations on the horizon. This expansion is aligned with their commitment to tap into emerging opportunities in the energy sector and highlights their dedication to sustainable growth. 📈 To learn more about this exciting development, click the link in the comments below! ⬇️ #AzuleEnergy #Namibia #OilExploration #EnergyIndustry #SustainableGrowth 🇳🇦

Oil Majors Show Interest in Galp's Namibia Offshore Oil Prospect More than 12 major oil companies, including Exxon, Shell, and Chevron, are showing interest in acquiring a 40% stake in Galp Energia's significant oil discovery offshore Namibia. Galp's Mopane discovery, estimated to hold at least 10 billion barrels of oil and gas equivalent, could be valued at over $10 billion. Galp launched the sale process for half of its 80% stake in Petroleum Exploration Licence 83 in April. Several companies have already signed agreements to access geological data and placed non-binding offers. Source: https://lnkd.in/ejCi7pXh #OilIndustry #EnergyNews #OffshoreDrilling #GalpEnergia #NamibiaOil #Exxon #Shell #Chevron #OilExploration #EnergyTransition #FossilFuels #EnergyConsultants #OilAndGasConsultants #PetroleumConsultants #DrillingConsultants #OilAndGasConsultingFirms #OilAndGasProjectManagementServices #OilAndGasStaffing #OilfieldStaffingAgency #OilAndGasRecruitingAgency #OilAndGasWorkforceSolutions

Namibia oil company says signed deal with Chevron to develop offshore block (NYSE:CVX) - Seeking Alpha: Namibia oil company says signed deal with Chevron to develop offshore block (NYSE:CVX)  Seeking Alpha

Mexico's upstream oil and gas activity faces a slowdown in 2024, with companies returning exploration blocks due to limited opportunities. As President López Obrador maintains policies discouraging investment, experts suggest a pivotal moment for Guyana's thriving oil sector. Pedro Martínez of S&P Global highlights Mexico's shift, emphasizing underwhelming exploration results. Guyana, Suriname, and Brazil emerge as attractive alternatives. Amid Mexico's decline, Guyana experiences remarkable growth since ExxonMobil's 2015 oil discovery. Production exceeded 500,000 barrels/day in 2023, targeting 1.2 million by 2027/2028. With eight new blocks set for award, Guyana's sector booms. Explore the flourishing potential and positive momentum in Guyana and Suriname's oil and gas sectors, click the link to read more: https://shorturl.at/agjwE Source: Oil Now #ElDoradoOffshore #EveryoneDeservesOpportunities

Interesting News! in the oil and gas industry, I'm excited to share that China National Offshore Oil Corporation (CNOOC International ) has expanded its global footprint by acquiring five offshore oil and gas blocks in Mozambique through its wholly owned subsidiaries. These acquisitions were formalized through petroleum exploration and production concession contracts (EPCCs) with Mozambique's Ministry of Mineral Resources and Energy (MIREME) and Empresa Nacional de Hidrocarbonetos (ENH). The contracts cover blocks S6-A, S6-B, A6-D, A6-E, and A6-G, located offshore Mozambique, spanning a total area of approximately 29,000 square kilometers with water depths ranging from 500 to 2,500 meters. Under the terms of these contracts, the first stage of the exploration period will last four years. CNOOC International's subsidiaries will serve as operators during both the exploration and development phases, holding significant operating interests in the blocks: S6-A: 70% S6-B: 77.5% A6-D: 77.5% A6-E: 80% A6-G: 79.5% ENH retains the remaining non-operating interests: S6-A: 30% S6-B: 22.5% A6-D: 22.5% A6-E: 20% A6-G: 20.5% This strategic acquisition marks a significant milestone for CNOOC International , strengthening its presence in the offshore oil and gas sector and reinforcing its commitment to exploring new energy frontiers. #china #cnooc #energy #geosciences #globalexpansion #ministryofmineralresources #mozambique #offshoreexploration #oilandgas #petroleumexploration

Great news for Eni and the Republic of Côte d’Ivoire [...] The President of the Republic of Côte d’Ivoire Alassane Ouattara and the Chief Executive Officer of Eni Claudio Descalzi met in Abidjan to discuss the company’s activities in the country, including the successful results of the exploration well Murene 1X on the discovery named Calao. The Calao discovery was greeted as a significant one. Drilling operations took place approximately 45 km offshore in block CI-205, reaching a depth of 5,000 m in water depths of around 2,200 m. The well encountered light oil, gas, and condensates in various intervals of Cenomanian age characterized by good to excellent permeability values. Preliminary assessments indicate potential resources ranging between 1 and 1.5 Bboe. Eni operates the block in partnership with Petroci Holding. [...] #hydrocarbons #reliableenergy #affordableenergy #energysecurity #GDP

Sample of Oil and Gas Projects (July 24): natural resources are essential for enhancing the security and affordability of energy and resource supplies. 1. Kuwait Oil Co. has announced a significant offshore oil and gas discovery in the Al-Noukhitha offshore field. The discovery is estimated to contain approximately 3.2 billion barrels of oil equivalent,  including 2.1 billion barrels of light oil and 5.1 trillion standard cubic feet of natural gas. Kuwait, the fifth-largest producer in OPEC, currently produces around 2.48 million barrels per day and plans to increase its capacity to 4 million barrels per day by 2035. 2. ExxonMobil announces a 30-well drilling campaign for its seventh oil and gas project in Guyana, set to start production in 2029. The project aims to increase the country's oil output to over 1.4 million barrels per day, with Exxon managing all oil production operations in Guyana. 3. Bolivia has recently discovered a $7 billion natural gas reserve, marking the largest find since 2005. This new reserve will significantly boost Bolivia's existing natural gas resources. The country is currently grappling with an energy crisis caused by declining oil and gas production. Natural gas production in Bolivia has dropped from 56.6 million cubic meters per day (MMcmd) in 2016 to 31.9 MMcmd in 2023.. 4. New Zealand plans to lift the ban on oil and gas exploration this year due to energy security concerns stemming from the depletion of natural gas reserves. The aim is to utilise the country's natural resources to enhance energy and resource supply security, boost regional economic growth, and enhance New Zealand's self-reliance to mitigate risks from global market fluctuations....... https://lnkd.in/d9YUT5Zr

In October, the titans of the global oil and gas industry were in full swing. #Chevron made waves with a massive $53 billion acquisition of #Hess, a strategic move enhancing its influence in the thriving #Stabroek block in #Guyana. #Eni scored big with a noteworthy gas discovery off Indonesia's coast and continued its exploration ventures in #Egypt and #Cyprus. #ExxonMobil strengthened its foothold in Guyana through yet another offshore find, while #Shell revealed an exciting natural gas deposit in #Colombia. #TotalEnergies celebrated a major discovery in #Angola and set its sights on expanding in #Namibia's Deep Water Orange Basin. On the flip side, #BP faced a setback with a disappointing result in the #US Gulf of Mexico. The global energy landscape witnessed a dynamic dance of acquisitions, discoveries, and challenges throughout the month of October! Stay tuned for additional updates on #Majors and other global developments in the field of oil and gas #exploration. Rystad Energy