Fri 25 January 2022:
TotalEnergies, a French oil and gas company, announced a “significant discovery” of light oil and associated gas off the coast of Namibia on Thursday, and said it will begin evaluating prospective exploration.
The discovery comes after the International Energy Agency (IEA) cautioned last year that if the world is to keep global warming under control, all fossil fuel exploration operations must be halted immediately.
TotalEnergies said in a statement that it had “encountered approximately 84 meters (275 feet) of net oil pay in a good quality Lower Cretaceous reservoir.”
“This discovery offshore Namibia and the very promising initial results prove the potential of this play in the Orange Basin, on which TotalEnergies owns an important position both in Namibia and South Africa,” Kevin McLachlan, senior vice president for exploration at TotalEnergies, said in the statement.
He added that there will soon be “appraisal operations designed to assess the commerciality of this discovery.”
With a 40 percent working interest, the French energy giant is the block’s operator, alongside QatarEnergy (30 percent), Impact Oil and Gas (20 percent), and Namibia’s NAMCOR (10 percent).
SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES
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