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-0.000276395798783804 -0.000276395798783804 0.000414593698175803 -0.000276395798783804 0.00138197899391941 0.00331674958540643 0.00359314538419023 0.00456053067993364
Stock impact report

Namibia excites oil firms by opening up new frontier basin [Reuters]

TotalEnergies SE (TTE) 
Company Research Source: Reuters
Namibia, which has yet to produce any oil or gas, has become an exploration hotspot after offshore discoveries by TotalEnergies and Shell , and wants to accelerate the milestone of the country's first output. The southern African country is planning for its first oil production from TotalEnergies' giant Venus field in 2029/2030, its petroleum commissioner Maggy Shino said. In the , Portugal's Galp Energia said it had found at least 10 billion barrels of oil equivalent in its Mopane field, in the largely unexplored Orange Basin. "It is one of the newest and most attractive areas being explored by the industry and we are very excited by the discoveries so far," James Parr, vice president for new ventures exploration and development at Woodside Energy, told Reuters. "The oil is potentially some of the lowest carbon barrels being found currently so on the spectrum of oil its very attractive. There seems to be abundant gas which is also part of our transition and a big focus for W Show less Read more
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