Namibia: Namcor and Partners Make High-Quality Oil Discovery

The National Petroleum Corporation of Namibia (Namcor) and its joint venture partners have made a significant discovery off the southern coast of Namibia by detecting a high-quality light-oil-bearing reservoir.

The joint venture partners will now turn their attention to post-drilling analysis to determine the next steps of its exploration strategy.

Namcor is a joint venture partner in Petroleum Exploration Licence 85 (PEL 85), where Rhino Resources operate PEL 85 with a 42.5% working interest.

Its…