Qatar Energy announces a new oil discovery off the coast of Namibia economy

Qatar Energy Company announced today, Tuesday, that it has made a new oil discovery off the coast of Namibia, in a step that strengthens its presence in one of the most promising regions in the world in the field of oil and gas.

The company said that the new exploration well “recorded the best geological results achieved so far within its operations in Namibia, with the presence of good quality reservoirs, light oil, and limited quantities of associated gas,” that is, associated with oil.

The Minister of State for Energy Affairs and CEO of Qatar Energy, Saad bin Sherida Al-Kaabi, explained that the discovery comes after three previous discoveries announced by the company in Namibia, noting that the discovery “reinforces confidence in the Orange Basin as an emerging global hydrocarbon region.”

He added that the results are consistent with Qatar’s energy strategy, which aims to expand its international portfolio in exploration and production activities through projects with a significant impact.

Al-Kaabi also expressed his appreciation to the Namibian government for its continued support for exploration efforts, congratulating the project partners, led by Shell and the National Oil Corporation of Namibia, on this achievement.

Qatar Energy owns shares in four offshore exploration concessions off the coast of Namibia, which together cover an area of ​​approximately 34,000 square kilometers, within the Orange Basin, which in recent years has witnessed a series of major oil discoveries that have attracted the interest of major international energy companies.