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Huge oil find in Namibia a 'game-changer' – but what's in it for us? | Fin24 – News24

Wednesday, 01 June
09 Feb

A “game-changing” oil discovery off the coast of Namibia could not only attract billions in investment into the southern African country but it is set to ignite “white-hot” interest in oil and gas exploration in South Africa’s waters too. 

On Friday the National Petroleum Corporation of Namibia (Namcor) announced it and its partners – Shell Namibia Upstream BV and QatarEnergy – have discovered light oil at the Graff-1 deep-water exploration well located in the Orange Basin some 270km away from the diamond mining town of Oranjemund.
While the success of the Graff-1 well has industry observers abuzz, Namcor has cautioned that a second exploration well will be required to determine the size and recovery potential of the oil. Industry sources told Fin24 the drilling of this well is already under way. 
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Carol Paton
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