OffshoreEnergy
Shell has decided to write down $400 million, citing technical and geological difficulties encountered at the petroleum exploration license (PEL) 39, as its oil discovery in the Orange Basin off the coast of Namibia cannot be confirmed for commercial development at this point.
The post Namibia’s Orange Basin still oil-rich but Shell’s discovery deemed ‘commercially unfeasible’ appeared first on Offshore Energy…
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Namibia’s Orange Basin still oil-rich but Shell’s discovery deemed ‘commercially unfeasible’
Melisa Cavcic
10:20
Shell has decided to write down $400 million, citing technical and geological difficulties encountered at the petroleum exploration license (PEL) 39, as its oil discovery in the Orange Basin off the coast of Namibia cannot be confirmed for commercial development at this point. The post Namibia’s Orange Basin still oil-rich but Shell’s discovery deemed ‘commercially
