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Namibia wants to start producing its own oil in 2026 after Shell oil discovery

NAMIBIA wants to start producing its own oil for the first time in 2026, after a recent oil and gas discovery by Shell off the coast of the African country. This was stated by a government official. Namibia has so far not been a producer of fossil fuels.

It is still unclear whether the discoveries are large enough for Shell to continue developing the country’s first deep-water field. The field is estimated to hold 250 million to 300 million barrels of oil. Shell and Qatar Petroleum each have a 45 percent interest in the project. The Namibian state-owned National Petroleum Corporation of Namibia (NAMCOR) owns the remaining 10 percent.

Namibia has been trying to develop oil and gas fields for decades, but without success. In recent years, however, the country’s offshore projects have attracted many foreign companies, including US-based ExxonMobil and France’s TotalEnergies. This is due to discoveries of oil and gas in neighbouring South Africa and in countries like Brazil and Guyana, which share geological similarities with Namibia. Neighbouring Angola is a major oil and gas producer and member of the OPEC oil cartel.

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