Shell and QatarEnergy, operating in a joint venture with Namibia’s national oil company NAMCOR, have confirmed a significant light oil discovery in the deepwater Orange Basin off Namibia’s southern coast. The find, provisionally named the Jonker-1X well, represents the second major discovery in the region, following Shell and TotalEnergies’ earlier Graff-1 and Venus-1 finds.
The Jonker-1X well encountered a substantial hydrocarbon column across multiple stacked reservoirs, further validating the potential of a region that has rapidly become one of the most closely watched exploration frontiers in the world.
The discovery reinforces Namibia’s emerging status as a potential future hydrocarbon powerhouse, positioning the country to attract billions of dollars in further investment that could transform its economic trajectory. The anticipated influx of capital, technology, and specialised expertise is expected to generate thousands of jobs, boost national revenues through royalties and taxes, and accelerate infrastructure development, while encouraging renewed exploration interest in other underexplored basins along the continent’s Atlantic margin.
Source: Bloomberg