Shell has made a significant oil and gas discovery at the Graff-1 offshore well in Namibia, according to Reuters.

The well results have shown one layer at least 60 metres deep of hydrocarbons, holding an estimated 250 to 300 million barrels of oil and gas equivalent.

A Shell spokesperson said, “We continue to safely execute Graff-1 operations.”

It’s worth noting that while Shell holds a 45% stake in the offshore Petroleum Exploration License 39 (PEL 39), Qatar Petroleum owns a 45% interest and National Petroleum Corporation of Namibia (NAMCOR) a 10%.

For its part, the Namibian Ministry of Energy and Mines said that it was in the final stage of a process to collect quality data for the Graff-1 well, enabling a “thorough assessment of the prospect potential… As soon as all the data have been analysed, the Ministry will issue a full results announcement.

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