Shell is set to decide by the fourth quarter of 2025 whether to proceed with field development in Namibia’s offshore PEL 39 block, while Chevron nears completion of its seismic data interpretation in the Walvis Basin, according to a senior government official.
“Shell and its partners are working hard to calibrate data from the nine wells drilled so far,” said Maggy Shino, Petroleum Commissioner at Namibia’s Ministry of Mines and Energy.
She added that Shell is integrating data from a 10,000-square-kilometer seismic survey—covering nearly 90% of its block—into its development planning.
“We are now working together to design a pathway towards development. By the fourth quarter of 2025, we will have clarity on the direction for field development,” Shino stated.
The update follows Shell’s recent $400 million impairment related to its Namibian oil discovery, citing challenges in developing a commercially viable extraction plan.
Meanwhile, Chevron has made strides since entering Namibia’s upstream sector. The U.S.-based major acquired Petroleum Exploration License (PEL) 90 and drilled the Kapana well, which Shino described as a “technical success.”
“Chevron has also secured another license within the Walvis Basin—PEL 82—through a joint venture with Strato and Namcor,” Shino noted.
She confirmed that the consortium is in the final stages of interpreting 3D seismic data collected in 2023, stating, “They are now at the last stage of maturing that prospect.”
Insights from the Kapana well will guide future drilling efforts across both PEL 90 and PEL 82. However, in January, Chevron announced that an exploration well drilled in Namibia’s Orange Basin did not yield commercial hydrocarbon reserves.
