By Staff Reporter
WALVIS BAY, Aug. 17 — Shell plc (SHEL.L) has officially confirmed the presence of hydrocarbons within its Lesedi-1X exploration well situated offshore Namibia, as stated in a press release on Wednesday.
Positioned in the Orange Basin, approximately 270 kilometres (168 miles) away from the Namibian coastline, the well’s drilling reached a substantial depth of 6,168 meters (20,257 feet).
Shell has affirmed that the data collected from the well “provides definitive evidence of hydrocarbons,” while emphasizing that “further assessment is essential to ascertain the potential for development.”
Marking Shell’s fourth oil discovery in the Orange Basin over the last twenty-four months, the Lesedi-1X breakthrough follows prior successes at the Graff-1X, La Rona-1X, and Jonker-1X wells.
In collaboration with partners QatarEnergy and Namcor, Namibia’s national oil company, Shell’s strategic agenda includes drilling two additional exploration wells within Namibia by the conclusion of this year’s third quarter. This initiative aligns with the approval granted by the Namibian government for Shell’s application to undertake ten more exploration and appraisal wells in the nation.
The exploration triumphs within the Orange Basin have fostered optimism regarding Namibia’s potential transformation into a noteworthy oil supplier, countering its dependence on oil imports.
Nonetheless, the series of discoveries has kindled concerns pertaining to the environmental implications associated with heightened oil production. Given the Orange Basin’s status as a habitat for various marine protected areas, apprehensions have arisen about the potential for ecological harm resulting from oil spills.
In response, Shell has articulated its steadfast commitment to the responsible and sustainable development of resources within the Orange Basin. The company has pledged to collaborate closely with the Namibian government and other stakeholders to mitigate the environmental repercussions of oil extraction.
These breakthroughs within the Orange Basin hold substantial promise for Namibia’s economy, which traditionally relies heavily on the mining sector. The newfound potential of oil production not only promises economic diversification but also stands to generate employment opportunities.
Concurrently, these successes offer a considerable boon to Shell, aligning with its aspirations to expand its oil and gas ventures across the African continent. This triumph within the Orange Basin signifies a pivotal achievement in Shell’s recent substantial investments in Africa.
