Shell has confirmed to Reuters, that it has successfully completed drilling a fourth exploration well, Lesedi-1X, in Namibia, which confirmed the presence of hydrocarbons.
“Further evaluation is required to determine the development potential,” Shell stated in a statement carried by Reuters.
In March, Shell and its partners announced a significant discovery of light oil in the Jonker-1X deep-water exploration well, located approximately 270 kilometers off the Namibian coast in the offshore region.
The PEL-39 Exploration License is held by a consortium comprised of QatarEnergy (45% working interest), Shell (Operator with a 45% working interest), and the National Petroleum Corporation of Namibia (NAMCOR) (10% working interest).
Namibia is optimistic about the future economic prospects of the country following the discovery of oil by Qatar Energy, Shell, and Total Energies in the Orange Basin, offshore Namibia near Luderitz.
According to government estimates, the discoveries made by Shell and TotalEnergies have the potential to generate annual taxes and royalties ranging from N$60 billion to N$95 billion, with the potential to create 3,600 jobs at the peak of production.”
