Business 7

Bold bet in Namibia’s Orange Basin

Galp’s new drilling campaign

Galp has launched a new drilling phase to assess the potential of Mopane off the coast of Namibia, marking a turning point for the development of what could become the country's largest oil discovery.

2 Dae Gelede - 2024-10-30 00:00:00

Portuguese energy company Galp has started an exploration and appraisal campaign on its strategic block in the Orange Basin off the coast of Namibia. On 23 October the first of f

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Katima Mulilo: 20° | 37° Rundu: 22° | 37° Eenhana: 21° | 37° Oshakati: 20° | 37° Ruacana: 19° | 37° Tsumeb: 23° | 36° Otjiwarongo: 20° | 36° Omaruru: 18° | 37° Windhoek: 19° | 34° Gobabis: 19° | 36° Henties Bay: 14° | 20° Wind speed: 17km/h, Wind direction: SW, Low tide: 08:56, High tide: 03:15, Low Tide: 21:17, High tide: 15:18 Swakopmund: 14° | 15° Wind speed: 15km/h, Wind direction: NW, Low tide: 08:54, High tide: 03:13, Low Tide: 21:15, High tide: 15:16 Walvis Bay: 13° | 20° Wind speed: 18km/h, Wind direction: W, Low tide: 08:54, High tide: 03:12, Low Tide: 21:15, High tide: 15:15 Rehoboth: 18° | 36° Mariental: 20° | 38° Keetmanshoop: 21° | 38° Aranos: 19° | 39° Lüderitz: 15° | 28° Ariamsvlei: 20° | 38° Oranjemund: 14° | 21° Luanda: 25° | 26° Gaborone: 20° | 37° Lubumbashi: 18° | 32° Mbabane: 15° | 35° Maseru: 15° | 32° Antananarivo: 17° | 30° Lilongwe: 21° | 31° Maputo: 20° | 36° Windhoek: 19° | 34° Cape Town: 16° | 24° Durban: 18° | 26° Johannesburg: 19° | 32° Dar es Salaam: 25° | 31° Lusaka: 19° | 31° Harare: 17° | 31° Currency: GBP to NAD 22.67 | EUR to NAD 19.14 | CNY to NAD 2.47 | USD to NAD 17.61 | DZD to NAD 0.13 | AOA to NAD 0.02 | BWP to NAD 1.27 | EGP to NAD 0.35 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.65 | ZWL to NAD 0.04 | BRL to NAD 3.03 | RUB to NAD 0.18 | INR to NAD 0.21 | USD to DZD 132.82 | USD to AOA 909.05 | USD to BWP 13.42 | USD to EGP 48.9 | USD to KES 129.2 | USD to NGN 1650.78 | USD to ZAR 17.6 | USD to ZMW 26.73 | USD to ZWL 321 | Stock Exchange: JSE All Share Index Same 0 | Namibian Stock Exchange (NSX) Overall Index 1855.18 Down -0.76% | Casablanca Stock Exchange (CSE) MASI 14168.1 Down -0.1% | Egyptian Exchange (EGX) 30 Index 30658 Up +0.94% | Botswana Stock Exchange (BSE) DCI 9844.57 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 751.40/OZ UP +0.17% | Copper US$ 4.37/lb UP +0.45% | Zinc US$ 3 066.50/T UP 0.97% | Brent Crude Oil US$ 74.59/BBP UP +0.18% | Platinum US$ 989.48/OZ DOWN -0.0004 Sport results: Weather: Katima Mulilo: 20° | 37° Rundu: 22° | 37° Eenhana: 21° | 37° Oshakati: 20° | 37° Ruacana: 19° | 37° Tsumeb: 23° | 36° Otjiwarongo: 20° | 36° Omaruru: 18° | 37° Windhoek: 19° | 34° Gobabis: 19° | 36° Henties Bay: 14° | 20° Wind speed: 17km/h, Wind direction: SW, Low tide: 08:56, High tide: 03:15, Low Tide: 21:17, High tide: 15:18 Swakopmund: 14° | 15° Wind speed: 15km/h, Wind direction: NW, Low tide: 08:54, High tide: 03:13, Low Tide: 21:15, High tide: 15:16 Walvis Bay: 13° | 20° Wind speed: 18km/h, Wind direction: W, Low tide: 08:54, High tide: 03:12, Low Tide: 21:15, High tide: 15:15 Rehoboth: 18° | 36° Mariental: 20° | 38° Keetmanshoop: 21° | 38° Aranos: 19° | 39° Lüderitz: 15° | 28° Ariamsvlei: 20° | 38° Oranjemund: 14° | 21° Luanda: 25° | 26° Gaborone: 20° | 37° Lubumbashi: 18° | 32° Mbabane: 15° | 35° Maseru: 15° | 32° Antananarivo: 17° | 30° Lilongwe: 21° | 31° Maputo: 20° | 36° Windhoek: 19° | 34° Cape Town: 16° | 24° Durban: 18° | 26° Johannesburg: 19° | 32° Dar es Salaam: 25° | 31° Lusaka: 19° | 31° Harare: 17° | 31° Economic Indicators: Currency: GBP to NAD 22.67 | EUR to NAD 19.14 | CNY to NAD 2.47 | USD to NAD 17.61 | DZD to NAD 0.13 | AOA to NAD 0.02 | BWP to NAD 1.27 | EGP to NAD 0.35 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.65 | ZWL to NAD 0.04 | BRL to NAD 3.03 | RUB to NAD 0.18 | INR to NAD 0.21 | USD to DZD 132.82 | USD to AOA 909.05 | USD to BWP 13.42 | USD to EGP 48.9 | USD to KES 129.2 | USD to NGN 1650.78 | USD to ZAR 17.6 | USD to ZMW 26.73 | USD to ZWL 321 | Stock Exchange: JSE All Share Index Same 0 | Namibian Stock Exchange (NSX) Overall Index 1855.18 Down -0.76% | Casablanca Stock Exchange (CSE) MASI 14168.1 Down -0.1% | Egyptian Exchange (EGX) 30 Index 30658 Up +0.94% | Botswana Stock Exchange (BSE) DCI 9844.57 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 751.40/OZ UP +0.17% | Copper US$ 4.37/lb UP +0.45% | Zinc US$ 3 066.50/T UP 0.97% | Brent Crude Oil US$ 74.59/BBP UP +0.18% | Platinum US$ 989.48/OZ DOWN -0.0004