QatarEnergy recently disclosed the discovery of an additional offshore oil deposit within Namibia's Orange Basin, further establishing the Southern African country as a premier global destination for oil exploration.
The energy giant said that a substantial oil-bearing reservoir was found in its Merlin-1X exploration well, which is part of Petroleum Exploration License 39 (PEL 39).
It claims that the well produced some of the most promising geological data seen in the licensing area to date, including the existence of light crude oil and high-quality reservoir features.
The finding is the eighth well drilled within PEL 39, adding to a growing number of successful discoveries that have turned Namibia from a relatively unknown exploration market into one of Africa's most keenly watched energy hotspots.
"We are pleased with this discovery, which follows three earlier discovery announcements in Namibia," QatarEnergy CEO and Energy Minister Saad Sherida Al-Kaabi said.
