Browsing: Oil Discoveries in Namibia

• Namibia’s Mopane field could hold up to 10 billion barrels of oil, Galp announces.
• Tests on Mopane-1X well in January and the Mopane-2X well in March gave highly promising findings.
• Exploration success in Namibia could pave the way for a new revenue stream for Galp.

Portuguese oil company Galp Energia has set the stage for a potential game-changer in the global energy industry with its announcement at the weekend regarding the Mopane field off the coast of Namibia.

Following the conclusion of the first phase of exploration, Galp projects that the Mopane field could hold up to 10 billion barrels of oil, marking a huge step in the evolving oil and gas industry in Namibia.

Gap noted that testing operations were undertaken at the Mopane-1X well in January and the Mopane-2X well in March gave highly promising findings. The company noted the discovery of significant light oil columns in …

Despite the worldwide call commanding the global business community to divest from fossil fuels and shrink their carbon footprints in the name of net zero, international oil companies (IOCs) still recognize Africa as their next frontier.…