TotalEnergies Lifts Namibian Stakes in Boost for Oil Development bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Starting in 2022, TotalEnergies and Shell Plc made large finds in the waters off Namibia, raising hopes of transforming the economy of the sparsely populated country.
Westmount Energy has announced that it has purchased 300,000 common shares in Africa Oil Corp. The purchase increases Westmount s indirect exposure to anticipated exploration drilling on the Canje and Orinduik blocks, offshore Guyana from 2024 and in addition provides liquid exposure to the scheduled 2023, up to 4 well, appraisal drilling and testing program on the giant Venus discovery in the Orange Basin, offshore Namibia.
Namibia is considering taking minority stakes in mining and petroleum production companies amid increasing concerns over local ownership of valuable resources.