Another Oil Discovery in Namibia Boosts Exploration Hopes

The oil exploration company Gustos Energy has announced the discovery of a "significant" quantity of oil off the coast of Namibia, which further "cements the country's Orange Basin as a promising new frontier for hydrocarbon exploration". 

Although exploration activities have been going on for decades, the country's first major oil find was made in 2022.

Oil drilling platform at Walvis Bay, Namibia (file photo).

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