The National Petroleum Corporation of Namibia (NAMCOR) underscored Namibia’s burgeoning petroleum potential during a technical session at the Namibian International Energy Conference held on Tuesday.
Namibia boasts four recognized offshore basins and two onshore basins, with over 30 exploration wells drilled thus far.
Recent discoveries such as Venus-1 by TotalEnergies and Graff-1X by Shell have affirmed the presence of a viable petroleum system in Namibia’s deepwater regions.
Victoria Sibeya, Executive: Upstream Exploration at NAMCOR, emphasized the importance of international partnerships with companies like TotalEnergies, Shell, ExxonMobil, Chevron, and Galp in unlocking Namibia’s hydrocarbon potential. She stated, “In Namibia, there is vast potential for further hydrocarbon discoveries.”
Moreover, significant progress has been made in establishing a working petroleum system in the Owambo Basin, a crucial onshore area.
Activities by ReconAfrica and legacy fields have contributed to this development. Frieda Thomas, NAMCOR Senior Geoscientist, invited oil companies to explore the onshore basin, highlighting the existing regulatory framework in place.
Looking ahead, NAMCOR aims to enhance seismic data and geological understanding of both on- and offshore basins.
The company is currently engaged in extensive 2D seismic data reprocessing, including projects in the Orange and Lüderitz Basins.
Martin Negonga, NAMCOR Asset Manager, noted the surge in exploration activity following recent discoveries, with companies acquiring substantial amounts of seismic data.
In addition to ensuring the quality of seismic data packages, NAMCOR seeks to identify further prospective areas within its operated license blocks.
With 31 active exploration petroleum licenses and a comprehensive exploration agenda, NAMCOR is positioned to play a pivotal role in Namibia’s petroleum sector growth.
