Jungle George 🌿🌳🌴 on Nostr: Something remarkable is happening off the Namibian coast, where there have been 11 ...

Something remarkable is happening off the Namibian coast, where there have been 11 oil discoveries in just two years. Virtually every major oil company is now investing heavily in exploration there, vying for a piece of this promising pie. #Namibia is emerging as the second most significant site for modern-age oil discoveries, following Guyana, which has become one of the largest oil producers since 2015 with 33 discoveries.

Things are moving quickly, with TotalEnergies indicating a potential Final Investment Decision in 2025, meaning oil could be flowing as soon as 2029. Advances in technology now allow for offshore exploration at astonishing depths, as evidenced by Shell's Graff and TotalEnergies' Venus discoveries in ultra-deep Namibian waters in 2022. Galp Energia’s recent Mopane well discovery is the biggest yet, adding to the industry's excitement.

However, there are challenges. High gas ratios complicate extraction, with options including gas injection, LNG production, or gas-to-power plants. Namibia's proactive and supportive government contrasts sharply with South Africa’s regulatory delays. Namibia could potentially see substantial economic benefits, positioning itself as Africa's top oil producer. This booming oil sector is transforming Namibia's economic landscape, making it a focal point in Africa's energy future.