Namibia’s ambition to join the Organisations of Petroleum Exporting Countries, OPEC, has been boosted by the discovery of an estimated 10bn barrels of oil.
Portuguese oil company Galp Energia revealed that it had made the potential find after concluding its first phase of oil exploration in the Mopane field off Namibia’s coast.
Vast oil and gas reserves have been discovered in Namibia’s Orange Basin, where Mopane is located, in recent years.
The discoveries have positioned the southern African country as a potentially significant player in the global oil industry as it plans to start to oil production in 2030.
