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Namibia: Shell Write Down Merely a Speed Bump, not a Road Block

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Namibia

The country still offers substantial potential in the offshore Orange Basin, confirmed by major projects such as TotalEnergies’ appraisal campaign in PEL 56

JOHANNESBURG, South Africa, January 9, 2025/APO Group/ — 

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 write down $400 million, citing technical and geological difficulties encountered at the license.

While stakeholders deem this as a ‘blow to the country,’ the African Energy Chamber (AEC) – serving as the voice of the African energy sector – considers this merely a speed bump in Namibia’s oil development rather than a road block. Namibia still offers significant potential in the offshore Orange Basin and beyond, underscored by the positive exploration campaigns currently underway.

Shell made headlines in 2022 with the discovery of the Graff-1X exploration well in PEL 39. Since this find, the company has drilled an additional 8 wells, namely La Rona-1X, Jonker-1X, Graff-1A, Lesedi-1X, Cullinan-1X, Jonker-1A, Jonker-2A and Enigma-1X. Situated 250 km in the deep offshore, PEL 39 covers 12,000 km² – twice the size of Namibia’s capital city Windhoek. While subsurface complexities may exist, the current findings across the country are still promising. Moving further north, reservoir quality is expected to improve. A more in-depth analysis of the data by the exploration team could uncover opportunities for a gas strategy, potentially revealing new possibilities.

Shell and other operators have only scratched the surface of the vast exploration opportunities available in Namibia

The Orange Basin, particularly the northern areas, still holds significant exploration prospects with potential for commercially viable discoveries. Leading international oil companies and independents continue to position the basin as one of the most sought-after exploration hotspots, with various exploration campaigns expected to yield strong results. Energy major TotalEnergies, for example, is expected to make a Final Investment Decision on its Orange Basin projects in 2025, following strong discoveries. The company currently operates two offshore exploration licenses in the Orange Basin – Block 2912 and 2913B – in PEL 56 and is currently engaged in a multi-well appraisal and exploration drilling campaign in Block 2913B, following the expansion of its interests in both blocks in 2024. First oil is targeted for 2029.

Other players, including Woodside Energy, Galp and Rhino Resources continue to explore Namibia’s potential. Woodside Energy is expected to become the operator of PEL 87, following the approval of a permit and access to seismic data. Galp has seen significant success offshore Namibia with two discoveries made at the Mopane complex. The company is seeking a farm-in partner, with Brazil’s Petrobras exploring the opportunity. Meanwhile, Rhino Resources will begin drilling activities at PEL 85 in Q1, 2025, with plans to drill two high-impact wells.

The Orange Basin is believed to be rich in oil, with promising exploration opportunities in the north. Gas prospects are also prolific, underscoring the future potential and emerging growth opportunities present in the basin. However, Namibia’s oil potential doesn’t end with this basin. Beyond the Orange Basin, Namibia’s on- and offshore acreage offers high potential for impactful discoveries, particularly in basins such as Walvis, Kuene, Kavango and Namibe.

The Walvis Basin covers an area of 17,295 km² and serves as one of the most prolific gas provinces worldwide, and various companies are engaged in exploration activities. Eco Atlantic is assessing opportunities for development in PEL 97, PEL 98, PEL 99 and PEL 100, while Tower Resources is conducting an oil seep analysis and review of existing volumetric data on existing prospects and leads in Block 1910A, 1911 and 1912A. The company has identified the presence of multi-billion-barrels-of-oil-structures. Global Petroleum renewed its license for PEL 94 to September 2025, aiming to acquire, process and interpret 2,000 km of 3D seismic data. The company also plans to drill one well. Additionally, Chevron acquired an 80% operating interest in PEL 82 in the Walvis Basin in 2024.

Onshore, ReconAfrica is leading exploration in the Kavango Basin. The company confirmed the presence of an active petroleum system in November 2023 and seeks to obtain a 25-year production license following a discovery in PEL 73. The Kavango basin could likely hold as much as 30 billion barrels of oil, highlighting the potential across in-land basins.

“There is no need for alarm. Exploration in these blocks is ongoing, and discoveries may need to be tied in with other finds within the basin. It’s worth noting that these blocks are massive, spanning up to 10,000 square kilometers – larger than some countries. Shell and other operators have only scratched the surface of the vast exploration opportunities available in Namibia. The country’s oil and gas story is still unfolding, and there’s so much more to come. The government has been a strong supporter of investment into the oil sector and has created a stable climate that makes Namibia a go to destination for investors,” states NJ Ayuk, Executive Chairman of the AEC.

Distributed by APO Group on behalf of African Energy Chamber.

Energy

Venezuela Energy Week Confirms 19 August Date for Houston Industry Showcase

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Officially supported by Venezuela’s Ministry of Hydrocarbons and national oil company PDVSA, the Houston Industry Showcase will take place on 19 August, convening U.S. energy leaders ahead of Venezuela Energy Week 2027 in Caracas

HOUSTON, United States of America, August 10, 2026/APO Group/ –The organizers of Venezuela Energy Week (VEW) have confirmed that the Houston Industry Showcase will take place on 19 August 2026 at The Post Oak Hotel. Officially supported by Venezuela’s Ministry of Hydrocarbons and national oil company PDVSA, the event will bring together U.S. energy companies, investors and policymakers to explore commercial opportunities ahead of Venezuela Energy Week 2027 in Caracas in February.

The showcase will feature Minister of Hydrocarbons Paula Henao as a keynote speaker, providing an update on Venezuela’s energy priorities, investment agenda and opportunities for international partnership. Her participation underscores the country’s commitment to strengthening engagement with global industry as it seeks to expand production and unlock new upstream investment.

Bringing together exploration and production companies, independent operators, oilfield service providers, engineering firms, technology companies and financial institutions, the Houston Industry Showcase will examine opportunities across exploration, production optimization, infrastructure rehabilitation and field development.

As Venezuela works to increase oil and gas production, demand is expected to grow for the technical expertise of U.S. service providers in drilling, well intervention, completion services, production optimization, artificial lift, digital oilfield technologies and infrastructure rehabilitation. Houston-based industry leaders – including SLB, Halliburton, Baker Hughes, Weatherford and a broad network of EPC contractors, equipment manufacturers and specialized service companies – are well positioned to support the modernization of mature fields, improve operational efficiency and deliver the technologies and services needed for future upstream projects.

The Houston event follows a successful Industry Showcase in London, which brought together international investors, operators and energy service companies to explore Venezuela’s evolving investment landscape. Building on that momentum, the Houston edition will deepen engagement with the U.S. energy industry and strengthen commercial dialogue ahead of Venezuela Energy Week 2027.

Venezuela Energy Week – the country’s largest energy investment platform to date – has been confirmed for 22–25 February 2027 in Caracas. Organized by Energy Capital & Power, the event will bring together government leaders, investors and industry stakeholders from across the global energy value chain.

To register for the Houston Industry Showcase on August 19, visit https://apo-opa.co/4g0TncR. To learn more about delegate, sponsorship and partnership opportunities for the showcase or to secure your place at Venezuela Energy Week 2027 in Caracas, contact info@venezuelaenergyweek.com.

Supporting Venezuela’s Earthquake Recovery
Our thoughts are with the people and communities affected by the recent earthquakes in Venezuela. As the country begins the long process of recovery, we encourage members of the global energy community to support relief and reconstruction efforts through the CAF Recovery and Reconstruction Fund for Venezuela, which channels contributions from individuals, companies and organizations to emergency assistance, essential services and long-term rebuilding efforts.

To learn more or make a contribution, please visit the CAF Recovery and Reconstruction Fund for Venezuela (https://apo-opa.co/4hkvteE).

Distributed by APO Group on behalf of Energy Capital & Power.

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Islamic Development Bank Institute (IsDBI) Secures New Patent for Smart Stabilization System from Intellectual Property Office of Singapore

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IsDBI

The Smart Stabilization System is a pioneering digital market infrastructure designed to stabilize asset markets by intelligently managing supply-demand gaps and mitigating excessive volatility

JEDDAH, Saudi Arabia, August 10, 2026/APO Group/ –The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org) is pleased to announce that the Intellectual Property Office of Singapore (IPOS) has granted a new patent for its innovative Smart Stabilization System.

 

The patent was granted on 10 July 2026 under Singapore Patent No. 10202250873B for the invention titled “A Computer Network Stabilization System and Method.” The patent application was filed on 1 September 2022 and was formally granted following a comprehensive review process.

This achievement reflects our commitment to translating pioneering research into practical solutions that contribute to economic resilience and sustainable development

The Smart Stabilization System is a pioneering digital market infrastructure designed to stabilize asset markets by intelligently managing supply-demand gaps and mitigating excessive volatility. Leveraging sophisticated algorithms and advanced simulation models, the system is designed to anticipate supply and demand imbalances and implement programmable stabilization measures before they escalate into market disruptions.

Unlike traditional stabilization mechanisms that rely on capital reserves, buffer funds, or external interventions, the Smart Stabilization System introduces a next-generation framework for achieving autonomous market stabilization through proactive and programmed stabilization mechanisms. By incorporating distributed ledger technology and cryptographic trust mechanisms, the platform enhances transparency, trust, and operational resilience for digital asset and commodity markets.

The successful patent grant reflects IsDBI’s growing contribution to technological innovation and its commitment to developing knowledge-based solutions that address contemporary economic and development challenges.

Since filing the patent application back in 2022, the Institute has continued to advance the Smart Stabilization System through ongoing development and testing, aimed to expand its practical applications and support future capitalization opportunities. These advancements have positioned the system as a potentially transformative solution for enhancing stability and resilience in increasingly digital and interconnected economies.

Commenting on this occasion, Dr. Sami Al-Suwailem, Acting Director General of IsDBI, said, “The grant of this patent by the Intellectual Property Office of Singapore further strengthens the Institute’s position as a leader in developing innovative knowledge-based solutions that leverage modern technologies to address complex development challenges. This achievement reflects our commitment to translating pioneering research into practical solutions that contribute to economic resilience and sustainable development.”

Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

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Liberia to Preview Next Oil & Gas Licensing Round Strategy at Houston Investor Day

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The Liberia Petroleum Regulatory Authority will host operators, investors and partners in Houston on August 19 to preview future licensing opportunities and showcase the exploration potential of its offshore basins

HOUSTON, United States of America, August 7, 2026/APO Group/ –The Liberia Petroleum Regulatory Authority (LPRA) will present its strategy for the country’s next offshore licensing round at Liberia Investor Day Houston on August 19, bringing together international exploration companies, investors, service providers and energy leaders to discuss the next phase of Liberia’s upstream development.

Hosted in partnership with Energy Capital & Power, the event will provide a platform for the LPRA, led by Director General Hon. Marilyn T. Logan, to outline Liberia’s regulatory framework, investment priorities and plans to attract new participation across the country’s offshore sector. Discussions will focus on upcoming licensing opportunities, exploration prospects and the subsurface data supporting future investment decisions.

Liberia’s offshore sector is entering a new phase of exploration activity, with renewed international participation and a growing pipeline of opportunities. Following the award and ratification of eight Production Sharing Contracts in 2025, Liberia has re-established itself as a frontier exploration destination, with international operators advancing work programs designed to further evaluate the country’s petroleum potential. TotalEnergies is progressing exploration activities that include offshore geochemical surveys, 3D seismic acquisition and seabed mapping, while Oranto Petroleum has also signed contracts to explore Liberia’s offshore.

At the Liberia Investor Day Houston, the LPRA will provide industry stakeholders with insight into the priorities shaping the next licensing round, including the anticipated process, qualification requirements, available acreage and access to technical data. The engagement will give prospective investors a clearer view of Liberia’s exploration landscape and the opportunities emerging across its offshore basins.

The event will also facilitate direct dialogue between LPRA and the global upstream community, connecting companies with policymakers and industry stakeholders involved in shaping Liberia’s next chapter of petroleum development.

As exploration companies continue to seek new frontier opportunities, Liberia Investor Day Houston will highlight the role of regulatory certainty, data availability and strategic partnerships in unlocking long-term investment across Liberia’s offshore sector.

Registration is now open for attendees. Companies interested in Liberia’s emerging offshore opportunities are invited to join LPRA, investors and upstream leaders in Houston for insights into the country’s licensing strategy and exploration outlook. For more information contact info@energycapitalpower.com.

Distributed by APO Group on behalf of Energy Capital & Power.

 

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