It looks like all the major oil companies are banking on Namibia for the next big off shore oil boom

The next giant Brazil-style offshore pre-salt oilfield, or even the next thing to rival Eagle Ford, could very well be found in an emerging player in the final frontier of Africa that isn’t yet on investor radar.

The venue is Namibia.

And it’s not just about geology that could be analogous offshore to Brazil’s pre-salt bonanza, or onshore to the massive South African Karoo Basin… it’s about technological advancements that make the opportunities look that much more promising that just a few years ago.

The wild success of Exxon offshore Guyana, with 16 back-to-back commercial discoveries and first production launched ahead of schedule, hasn’t only led to hope for similar finds right across the maritime border in Suriname - it’s sent a message to explorers and investors alike that hydrocarbons we thought were out of reach, aren’t anymore.

Offshore Namibia, research indicates that Namibia’s Orange Basin has similar a source rock to Brazil.

https://www.yahoo.com/news/sup...ntier-230000667.html

They've been drilling there and offshore in Angola for 15 years. The problem is the cost is prohibitive.

When oil was $90 a barrel there was a lot of activity and hope. But when oil dropped below $65 a barrel many of the drill platforms and drill ships were moved off the reserves and anchored in Walvis Bay. They haven't moved since. Chevron and Total have idled their platforms in Angola and have cancelled all their new rig orders.

Everyone was hoping for a boom, but with crude prices what they are, no one is rushing out to grab it. Maybe one day...

Right on Opus. Namibia has no infrastructure at all. That's a problem.