Shell, Namibia and offshore block PEL 39

Namibia says Shell write-down of offshore discoveries ‘not a setback’
Namibia’s Mines and Energy Ministry has downplayed the impact of energy company Shell recent $400-million write-down on its offshore oil discoveries, stating that the country it remains committed to developing its hydrocarbon discoveries.
Shell writes down Namibia oil discovery in blow to country
Shell will write down around $400 million over an oil discovery offshore Namibia that it deemed commercially unviable in a blow to the southern African country's efforts to become a crude producer. Shell told Reuters that discovered oil and gas resources in offshore block PEL39 in Namibia "cannot currently be confirmed for commercial development.
Shell Hits Snag Offshore Namibia, Records $400M Financial Write-Down
SHEL deems the oil discovery located in Namibia's offshore block PEL 39 commercially infeasible for development.
Shell writes down $400m on unviable oil discovery in Namibia
Shell has determined that an oil discovery off the coast of Namibia is not commercially viable, leading to a projected write-down of around $400m (£325.52m), reported Reuters. This decision is a setback for Namibia's ambition to establish itself as an oil producer.
Shell Writes Off Namibia Oil Wells, Still Exploring in Country
Shell Plc is still seeking commercial pathways to oil production in Namibia after writing off about $400 million of wells in the southern African country, where multiple energy majors have been excited about large discoveries offshore.
Shell writes down Namibia oil discovery
Shell will write down around $400 million in its fourth quarter results relating mainly to an oil and gas discovery offshore Namibia, the company said on Wednesday. The British company told Reuters that discovered oil and gas resources in offshore block PEL 39 in Namibia "cannot currently be confirmed for commercial development.
Namibia's oil prospects hurt as Shell writes down offshore oil discovery
There have been several oil explorations by major oil conglomerates in the Southern African country of Namibia in recent years. Shell has announced a $400 million write-down related to an offshore oil discovery in Namibia,
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Unhappy Namibia rejects Shell claims that discoveries are not commercial, as it seeks ‘right partner’ to develop them
Namibia’s government has refuted Shell’s position that its discoveries in the Orange basin are uneconomic to develop and said ...
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Shell write down not a setback, we will soldier on – Alweendo
The Minister of Mines and Energy, Hon Tom Alweendo announced that the decision for multi-national oil and gas company Shell to write down N$400 million on the Orange Basin oil discovery, will not ...
Namibia: Shell Write Down Merely A Speed Bump, Not A Road Block
Energy major Shell has announced that oil discovered offshore Namibia in petroleum Exploration License (PEL) 39 cannot be currently confirmed for commercial development. As such, the company will ...
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Orange basin bubble bursts as Shell says its Namibia discoveries are uneconomic
Supermajor says write-off is ‘accounting process’; licence still has oil and gas potential; and looks for other Namibia ...
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Shell Starts Production at Gulf Oil Field
Shell begins commercial production at its Whale oil field in the Gulf of Mexico, while writing down a promising oil discovery ...
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🔒 Best of 2024: FT – Oil boom or bust? Namibia’s offshore wells defy the odds
Revisit the remarkable story of Namibia’s offshore oil exploration, where a staggering 88% success rate has shattered ...