Major seismic surveys lined up for Namibia’s unsung offshore areas
Australian contractor set to start campaigns late this year in sparsely drilled Luderitz and Walvis basins
20 June 2023 12:52 GMT UPDATED 20 June 2023 12:52 GMT
By Iain Esau in London
An Australian contractor has filed plans with Namibia's government to kick off the first of an array of seismic surveys late this year in two of the nation's long-neglected, but prospective offshore petroleum basins.
The huge discoveries made over the past year or so by TotalEnergies and Shell have triggered an oil rush to secure stakes in the Namibian part of the Orange basin.
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However, the cost of securing access to the few remaining opportunities in this play has priced out of the market many latecomers to the party, leaving them to focus on less mature plays to the north.