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Alsharq Tribune-Otaify
QatarEnergy announced on Tuesday a new oil discovery at the Merlin-1X exploration well in Petroleum Exploration License 39 (PEL 0039), located offshore Namibia, according to a statement issued by the company.
Merlin-1X is the 10th well drilled under the license and has delivered the most promising subsurface results to date, including good reservoir quality, light oil and limited associated gas, said the statement.
"These results represent a significant step that further strengthens confidence in the Orange Basin as an emerging world-class hydrocarbon province and aligns with QatarEnergy's strategy to expand its international upstream portfolio through high-impact exploration," the statement quoted Qatar's Minister of State for Energy Affairs, the President and CEO of QatarEnergy, Saad Sherida Al-Kaabi, as saying.
The Orange Basin is a deep-water oil and gas frontier stretching offshore along the coasts of Namibia and South Africa. In recent years, it has emerged as a global hotspot for energy exploration, with major discoveries.
QatarEnergy currently holds interests in four offshore exploration licenses in Namibia. The four licenses collectively cover an area of approximately 34,000 square km offshore Namibia.
