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Qatar to Accelerate Namibia Oil Well Development


FILE - Qatar's Minister of State for Energy Affairs and President and CEO of QatarEnergy Saad Sherida al-Kaabi speaks at a press conference with Exxon Mobil Corporations Chairman and CEO at QatarEnergy headquarters in Doha, June 21, 2022.

The CEO of Qatar Energy and Qatar’s Minister of Energy, Saad al-Kaabi said the state-owned petroleum company is investigating how to speed up the development of two well oils recently discovered off the Namibian coast.

Officials of Qatar Energy recently announced a joint venture with several partners that would witness Namibia joining Angola, as another oil producer along the continent’s Atlantic coast.

Saad al-Kaabi, the CEO of Qatar Energy and Qatar’s Minister of Energy, Monday said drilling is expected for 2023 to get a better understanding of deliverability and capacity, however, did not indicate when the two Namibian oil finds will be brought into production.

“We are trying to expedite that as fast as possible to ensure we can get the development finalized,” said Al-Kaabi as he addressed media during a recent visit to Namibia.

“These developments always take years to develop, it’s not something that can be done very fast, and this is deep offshore development, so it has its complications,” added Al-Kaabi.

The companies involved in the Qatar joint venture are yet to disclose the quantities found on the Namibian coast, however officials of the southern African nation say the discoveries are likely to be in billions of barrels.

Namibia’s energy minister Tom Alweendo last month addressed an oil conference in Senegal where he provided latest updates on the joint venture.

“The joint venture partners could start production in four years,” said Alweendo.