All Namibia News’ Post

Galp invests N$7.8 billion in upstream projects in 2023, including Namibia Galp Energia says it invested over N$7.2 billion towards upstream projects, with a focus on developments in the Brazilian pre-salt, Portugal, and an exploration campaign in Namibia during 2023. The group's Chief Executive Officer Filipe Silva said last year, net capex totalled €382.2 million (N$7.8 billion), with investments mostly directed towards upstream projects under development in the Brazilian pre-salt and the exploration campaign in Namibia. He added that the investment included the start of construction of the advanced biofuels plant and the 100MW electrolyser unit in Sines. "Capex, not considering divestments, totalled €1,052 million (N$21.5 billion) in 2023. Upstream accounted for 53% of total investments, whilst the downstream activities represented 29% and renewables and new businesses 13%," he said. This comes after drilling and logging activities in the first exploration well, Mopane-1X, confirmed the discovery of two significant columns of light oil in reservoir-bearing sands of high quality in 2024.  https://lnkd.in/dnN9fU_4 #namibia #oilandgas #oilexploration Namibia Petroleum Operators Association (NAMPOA) Namibia Investment Promotion and Development Board (NIPDB) NAMCOR NAMIBIA Sintana Energy Inc. (TSXV: SEI) (OTCQB: SEUSF)

#Equinor, #bp, #Eni partnership advance #exploration activities offshore #Angola The National Agency for #Oil, #Gas and #Biofuels and Azule #Energy signed the Risk Service Contracts (“RSCs”) for #offshore Blocks 46 and 47, in partnership with Equinor and Sonangol Pesquisa e Produção, S.A. (“Sonangol P&P”), and for Block 18/15, in partnership with Sonangol P&P. The RSCs represent another positive development for exploration activities in Angola’s Lower #Congo #basin. The three #licenses cover an area of approximately 8,700 km2 in the deep and ultra-deep waters of the Angolan offshore. Source: https://lnkd.in/dKbmCZUh

Challenger Energy Group Plc (AIM:CEG, OTC:BSHPF) has reported new estimates which show that in the 'upside case' its exploration project offshore #Uruguay could be host to as much as 4.9bn barrels of recoverable oil resources. A more conservative ‘base case’ estimation identifies a possible 6.5bn barrels of ‘in place’ oil across three prospects (Teru Teru, Anapero and Lenteja) which corresponds to some 2bn barrels of recoverable resources. The 4.9bn barrel ‘upside’ estimate meanwhile relates to some 16bn barrels of ‘in place’ oil. For important context, the small-cap explorer noted that it believes that the "economic field size" for a new discovery in this location would be in the range between 150mln and 200mln barrels. "We continue to be encouraged by the opportunity that our AREA OFF-1 licence in Uruguay represents,” said chief executive Eytan Uliel. More at #Proactive #ProactiveInvestors #AIM #OTC #CEG #BSHPF #ChallengerEnergy http://ow.ly/PnVK104IWrR

Energy firms boost gas exploration in Southeast Asia to meet growing demand Summary: Energy companies are intensifying gas exploration in Southeast Asia, responding to recent discoveries and favorable investment policies. This surge in activity, fueled by economic and population growth projections, aims to meet the region's gas demand expected to peak before 2040. Major developments include Mubadala Energy's expansion in Malaysia's Pegaga gas field and strategic acquisitions by TotalEnergies and Chevron. Additionally, Indonesia and Malaysia are offering more exploration blocks and improving fiscal terms to attract further investment, underscoring the region's growing importance in the global energy landscape. #EnergyExploration #SoutheastAsia #NaturalGas #InvestmentPolicies #EconomicGrowth

Since the return to power of Lula, who previously ruled between 2003 and 2010, it has increased its five-year capital spending budget by 31 per cent, with almost three-quarters dedicated to exploration and production. It also plans to return to areas it sought to exit, such as petrochemicals, renewable power and fertilisers, alongside increased investments in refining and biofuels. #petrobras #energyindustry #oilandgas