QatarEnergy, partners announce oil discovery offshore Namibia

QatarEnergy announced an oil discovery in a deep-water exploration well drilled in the PEL-39 license located in the Orange Basin, offshore Namibia.
The consortium partners comprising QatarEnergy (45 percent interest), Shell (operator, 45 percent interest) and National Petroleum Corporation of Namibia ‘NAMCOR’ (10 percent interest), have successfully concluded drilling operations of the Graff-1 well establishing the presence of a working petroleum system with light oil.
The partners will conduct analysis on the well data and further exploration activity to determine the full size and recoverable resource potential.
Commenting on this achievement, Minister of State for Energy Affairs and QatarEnergy President and CEO HE Saad Sherida Al Kaabi said, “We are encouraged by the Graff-1 well results, which enhance the potential of our exploration acreage in Namibia’s offshore. I would like to take this opportunity to thank and congratulate our partners Shell and NAMCOR, and my colleagues in QatarEnergy for their great efforts that led to this discovery, in a safe and efficient manner. We look forward to continuing our collaboration with the government of Namibia on the next steps, following this discovery.”
The Graff-1 well was drilled to a total depth of 5,376 meters in water depths of approximately 2,000 meters in the PEL-39 license area, which covers a total area of 12,299 km2.
QatarEnergy has interests in 3 areas (PEL39, 2912, and 2913B) in offshore Namibia covering a total area of 28,327 km2.