Africa’s Namibia could start producing oil by 2026. Shell has made a promising discovery in its territorial waters. More precise data on the deposit’s yield is expected this May or June.
Drilling on the seabed at a depth of more than 5 000 metres could be a huge boon for Namibia’s economy. Shell has announced “promising results” from the Graff-1 exploration well, which is mapping the mineral wealth of Namibia, which lies in the west of southern Africa. But oil production is still a long way off.
“We would consider it great if we could get everything done within four years. I can declare on behalf of the Namibian government that we will do everything possible to ensure that the field can deliver oil as soon as possible,” Maggy Shino of Namibia’s Ministry of Mines and Energy, which is in charge of oil exploration issues, said in a statement.
Shino stressed that it is too early to conclude how much oil reserves are in the area. He said it should be clearer in May or June. Shell also did not want to comment on the issue in any way.
