Namibia's Oil Boom Continues With Third Successful Strike

Before the Ukraine conflict unfolded, numerous developed nations embarked on a green energy drive, boldly advocating for renewable energy sources and turning their backs on fossil fuels. However, a curious turn of events has seen a surge in African countries investing in their oil reserves, with some even making groundbreaking discoveries.
Namibia has struck black gold for the third time in its history, this time in the Orange Basin, located 270 km off its coast. The drilling expedition that commenced in December 2022 has finally come to a triumphant end in early March 2023, revealing a bountiful oil reserve. In collaboration with industry giants Shell and Qatar Energy, Namibia made this significant discovery through the Jonker-1X deep-water exploration project.
National Petroleum Company of Namibia (NAMCOR) and its partners have uncovered light oil in the hydrocarbon-rich Orange Basin, located off the coast of Namibia. The drilling expedition, carried out using the cutting-edge Odfjell Deepsea Bollsta semi-submersible rig, reached a total depth of 6,168 meters, submerged in water depths of 2,210 meters.
"We are delighted to announce this third oil discovery after the success of the Graff-1X and Venus-1X discoveries by Shell and TotalEnergies in 2022," the managing director of NAMCOR, Immanuel Mulunga, said in a statement.
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