Equinor Pursues Major Oil Discovery Offshore Namibia
Source Summary
Norway's Equinor has entered Namibia's Orange basin and hopes to make a significant oil discovery through its Petroleum Exploration License 90 (PEL 90) block. The company's Executive Vice President for Exploration & Production International stated the discovery could be comparable to recent finds by TotalEnergies and Galp in the same basin.
Why it matters
Equinor's entry into Namibia's Orange basin positions it to potentially access significant oil reserves in one of the world's most active exploration regions.
