QatarEnergy Strikes Oil in Namibia's Orange Basin

The project represents the tenth well drilled under PEL 39 and follows three previous discoveries in the block. QatarEnergy, which holds a 45% stake in the license alongside partners Shell and Namibia’s national oil company, reported favorable reservoir quality and minimal associated gas. While the company withheld specific resource estimates, the geological profile suggests the find is commercially attractive.

CEO and Energy Minister Saad Sherida Al-Kaabi stated that the results bolster QatarEnergy’s strategy to expand its international upstream portfolio through high-impact exploration. The company now maintains interests in four offshore licenses—PEL 39, 56, 91, and 90—covering approximately 34,000 square kilometers. As exploration continues, the Orange Basin is increasingly viewed as a critical future source of global crude supply, with the latest data point suggesting that the region's development is still in its early stages.