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Business / Economics

About 10 billion barrels of oil discovered off Namibia’s coast

todayApril 22, 2024 65

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An estimated 10bn barrels of oil has been discovered in Namibia, Portuguese oil company Galp Energia has said. The company told Bloomberg News that it had made the potential find after concluding its first phase of oil exploration in the Mopane field off Namibia’s coast. Vast oil and gas reserves have been discovered in Namibia’s Orange Basin, where Mopane is located, in recent years. Namibia is eyeing an entry into the oil producers’ organisation Opec ahead of its planned start of oil production in 2030. NamCor Manager Of Marketing, Communications, and Public Relations, Paulo Coelho explaining.

 

Written by: Tonata Kadhila

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