02
Feb
Raffik Lazar Last month Shell's decision to write off its 400 million USD exploration investment in PEL39 and failure to find commercial hydrocarbon in a high-profile exploration well in PEL90 by a Chevron-led consortium, have left some wondering about the viability of the petroleum potential in the offshore Namibia Domain. While previous successes bolster positive sentiment and generate enthusiasm, the reverse is certainly not true. Let’s start by stating the obvious: the recent years exploration activities in the Offshore Namibia domain prove that the potential is present and the discovered barrels did not disappear with Shell decision. Rather it reflects…