"Shakwa Nyambe, the founder and MD of the law firm SNC Incorporated, which specialises in energy and natural resources matters, said the recent oil and gas discoveries by Galp, as well as the earlier discoveries by Shell and Total Energies in Namibia, have sparked a global interest in Namibia’s hydrocarbon potential.“I foresee a high number of mergers and acquisitions within Namibia’s upstream oil and gas sector in the next few years, as junior and medium size oil companies try to share the risk. I also foresee more major oil and gas companies acquiring oil and gas assets in Namibia, either by farming in existing petroleum blocks or applying for their own petroleum blocks,” he said. Nyambe said the oil and gas discoveries have also turned Namibia’s Orange Basin into a global hotspot for exploration activities, with multiple drilling rigs operating off the country’s shores."
"Meanwhile, Pancontinental Energy is optimistic about the prospects of discovering oil in the Orange Basin after Galp recently reported a significant discovery on its PEL 83, immediately south of Pancontinental’s PEL 87. “Galp’s PEL 83 prospects are thought by Pancontinental to reside in a very similar setting to the PEL 87 Saturn feature, with the reservoir sands being of comparable age and sharing the same oil source formation (Kudu Oil Shale). Pancontinental regards the Mopane-1X result as extremely positive for PEL 87 prospectively,” said the listed exploration company.
Pancontinental has announced that the Ministry of Mines and Energy has approved the extension of the PEL 87 permit into the first renewal exploration period, running from 23 January 2024 to 22 January 2026. Pancontinental executive director Barry Rushworth commented: “The prolific Namibian Orange Basin continues to deliver, and I believe Pancontinental continues to be exceedingly well-placed for an exciting 2024 and beyond.” Nyambe said the extension of Pancontinental’s exploration licence into the first renewal exploration period signifies a continued commitment to exploration efforts in Namibia and the potential of the industry, further contributing to the promising oil and gas landscape of the country."
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