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Namibia Sees Final Investment Decision on Oil Find by End-2024

OIL

A final investment decision on the commercial viability of developing its recent oil find is due by the end of 2024, Namibia’s Finance Minister Ipumbu Shiimi told Bloomberg in an interview in Washington April 16.

  • Around 11 billion bbl was found in the water off Namibia in 2022 by Total and Shell.
  • Some have touted the find as the largest ever deep-water find.
  • Shiimi said that Shell was around six months behind Total regarding completion of its feasibility study.
  • If a positive decision is made, it would take another five years before oil would start to flow, Bloomberg said.

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