Industry hype over Namibia as one of the world’s hottest offshore frontiers has been tempered by Shell’s announcement that it will take a write-down on nine wells drilled within its operated PEL 39 block. Shell called the move an ‘accounting process’ – and said it still sees additional commercial opportunities in Namibia’s offshore
The Orange Basin, spanning Namibia and South Africa, has in recent times, become a major global hotspot for oil and gas discoveries and drilling activities.
Investments from supermajors in the basin continue to grow, as plans to develop the fields advance. However, the efforts to commercialise the discoveries have not been without challenges.
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