Namibian riches: Shell and TotalEnergies sitting on 11 billion barrel oil haul alongside huge gas resources - Upstream Online
11 billion barrels of oil: Staggering figures show scale of hydrocarbons found by supermajors in Namibia’s red-hot Orange basin | Upstream Online
Shell and TotalEnergies have discovered at least 11 billion barrels of light oil and up to 8.7 trillion cubic feet of gas in Namibia’s prolific Orange basin over the last 18 months, according to top petroleum officials in the country.
11 billion barrels of oil: Staggering figures show scale of hydrocarbons found by supermajors in Namibia’s red-hot Orange basin
Shell and TotalEnergies have also discovered 8.7 trillion cubic feet of gas in prolific play
21 August 2023 10:13 GMT Updated 21 August 2023 12:26 GMT
By
in London
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”