Namibia Oil Discovery Could Be a ‘Giant’

Windhoek — TotalEnergies SE said an oil discovery off Namibia could be a “giant”, boosting speculation that the country is home to a prolific new hydrocarbon basin.

The find in the southwest African country “seems to be a very large” or even “giant” one, based on the results from a single well, TotalEnergies’ CEO Patrick Pouyanne said in a presentation to investors in New York on Wednesday.

The French major announced an initial discovery in Namibia in February, weeks after Shell Plc also drilled…