Recent deepwater oil discoveries off the Namibian coast have ignited significant excitement within the industry, according to Wood Mackenzie's Upstream Research Director Ian Thom.

Shell has enlisted Stena Drilling's mobile offshore drilling unit for the ongoing drilling campaign.

NJSC Naftogaz Ukraine revealed in a media statement that tests conducted on an exploratory well unveiled an impressive gas flow rate exceeding 7.06 million cubic feet per day (200,000 cubic meters per day).

These agreements mark a strategic move by Karoon to bolster its asset base and broaden its presence in the international oil and gas market.

The Wei-1 well, located approximately 124.3 miles (200 kilometers) offshore from Georgetown, Guyana, has yielded a total of 114 feet (35 meters) of net pay.

The gas will be exported to the European market, contributing to the Gina Krog field's extended lifetime and increased profitability.

The successful drilling operation reached a total depth of 6002 meters, revealing promising results for the exploration efforts in the area.

The company outlined plans to return to the well for completion as a production well in early 2024.

While the discovery is relatively modest, Equinor has affirmed that gas production can commence as early as 2023.

Shell's CEO shared this information during a recent call with analysts, outlining Shell's intentions to undertake an exploration well, an appraisal well, and a flow test at its offshore exploration licenses in Namibia.