Immanuel Mulunga Highlights Low Odds of Finding Viable Oil in Namibia

Former petroleum commissioner, Immanuel Mulunga, estimates a 25–35% chance of companies discovering commercially viable oil in Namibia. Speaking with local media, the ex-Namcor managing director commented on Chevron’s recent announcement about failing to find hydrocarbons in the Orange Basin. Mulunga emphasized that oil exploration remains a high-risk endeavor.