InvestorsHub Logo
Followers 16
Posts 4357
Boards Moderated 0
Alias Born 01/18/2003

Re: None

Tuesday, 03/07/2023 8:22:09 AM

Tuesday, March 07, 2023 8:22:09 AM

Post# of 264
shell confirmed big find next door

Shell - Barnstorming Offshore Discovery...

6 March 2023 11:06 GMT UPDATED 6 March 2023 11:32 GMT

Shell scores its largest oil discovery yet in world’s top exploration hotspot

The Jonker-1x probe hit light oil, with Upstream told it is huge find, better than the supermajor's previous discoveries in same block

Shell has made a barnstorming offshore oil discovery in Namibia’s prolific Orange basin that looks to be far bigger than its two earlier oil finds in probably the world’s top exploration play.

QatarEnergy and state-owned Namcor, Shell’s partners, today confirmed Upstream’s recent exclusive that the Jonker-1x probe had hit light oil in Block 2913A, but did not go into detail.

However, informed sources told Upstream that the Jonker discovery is jumbo-sized, fully justifying Shell’s decision to focus on a new geological play in the block as opposed to going back to drilling in the area of last year’s Graff-1x and La Rona-1x discoveries.

One knowledgeable source said the exploration fraternity is abuzz with talk that the Jonker prospect could house “over 1 billion barrels of recoverable oil”.

Another seasoned explorer said this estimate was utterly reasonable: “This is entirely possible.”

Namcor, Namibia’s state oil company, said today that Jonker-1x probe hit light oil, adding that it is a “major” oil discovery that will be appraised.

“The acquired data is currently being evaluated and further appraisal drilling is planned to determine the size and recoverable resources potential of the discovery,” said Namcor.

Odfjell’s semi-submersible rig Deepsea Bollsta drilled the exploration well to a total depth of 6168 metres in a water depth of 2210 metres.