Shell says it plans to undertake further exploration drilling in Namibia’s offshore PEL 39 block in 2026, as part of its continued evaluation of the area’s oil and gas potential.
“Shell, along with its partners, is progressing plans to conduct further exploration drilling activity in PEL 039 during 2026 to continue its evaluation of the prospectivity,” a Shell spokesperson said.
“This activity reflects Shell’s continued commitment to responsibly explore Namibia’s offshore potential in close partnership with QatarEnergy and NAMCOR.”
The announcement comes as Shell’s Chief Executive, Wael Sawan, provided analysts with an update on the company’s global exploration approach.
“We also selectively look at opportunities, of course you know we have Namibia. There we are looking at what others are doing, continuing to learn and positioning ourselves in case something interesting comes up,” he said.
Sawan noted that while Shell is adopting a more focused strategy globally, the company remains engaged in selected frontier areas.
“We have some exciting wells coming in the next six to 12 months and I look forward to seeing what will come out of that, while always recognising that in exploration we play the long game,” he added.
Shell operates PEL 39, a 12,000-square-kilometre licence located off Namibia’s southern coast. Since the initial Graff-1X discovery in 2022, the company has drilled nine wells in the block, including Graff, Jonker and La Rona.
Although some of these wells have encountered hydrocarbons, Shell has said technical and geological complexities have so far prevented confirmation of commercial viability.
As part of this process, the company has written down approximately US$400 million related to one of the discoveries.
Shell holds a 45% interest in the block, alongside QatarEnergy (45%) and the National Petroleum Corporation of Namibia (NAMCOR) with a 10% stake.
