Offshore Oil Drilling by Shell to Begin in Namibia

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Shell is set to begin drilling for oil off the coast of Namibia in the Orange Basin. For some time now there has been growing international interest in the offshore drilling of Namibia, and finally, Shell has stepped up to explore the potential Namibia has to offer. In the past, international interest in Namibia has been centered around its uranium reserves, so the focus on offshore drilling is a marked shift.

The move by Shell bodes well for Namibia. Mines and Energy minister Isak Katali stated last Monday, “The ministry of mines and energy is very excited about the interest shown by a super-major such as Shell Exploration and Production in Namibia.” Another Spanish oil and gas company, Repsol, is also set to begin drilling, perhaps as soon as before the end of this month. The transition from interest to action on the part of international oil companies could be a strong positive push towards expanding and diversifying Namibia’s economy.

Picture source and further reading:

http://www.bdlive.co.za/africa/africanbusiness/2014/02/17/shell-to-drill-for-oil-in-namibian-waters

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