Namibia is preparing for a qualitative leap in the oil industry with the discovery of a huge field whose reserves are estimated at 10 billion barrels. This is considered one of the largest discoveries in the Orange Basin.

This discovery represents good news for Namibia's economy. The government is counting on exploiting it to promote economic growth and achieve its development goals.

The Portuguese company Galp Energy, the owner of the discovery, announced the results of testing the “Mopan-X1” well, which proved the commercial feasibility of the discovery. Maximum flows were recorded at 14 thousand barrels equivalent per day.

Expectations indicate that the value of the deal to sell the share of Galeb Energy, which is looking for investors to buy 40% of its share in the license, may reach billions of dollars. Which makes it an attractive investment opportunity for international companies.

Namibia is a promising investment destination in the oil field. Shell and Total estimate the reserves of their discovery off the coast of Namibia at 11 billion barrels.

Namibia aspires to join the OPEC+ alliance, with the expectation that it will become the fourth largest African oil producer by 2030. Successive oil discoveries in Namibia attract many investors. This contributes to developing its economy and achieving its goals, which in turn enhances its chances of entering into this alliance.

These discoveries serve as an incentive to enhance investments in infrastructure and other sectors. Which contributes to creating new job opportunities and improving the standard of living for the population. The discovery of the Mopan field represents a qualitative shift in the oil industry in Namibia, and opens the door to new horizons for economic growth and sustainable development.