Best of 2024: FT – Oil boom or bust? Namibia’s offshore wells defy the odds

Revisit the remarkable story of Namibia's offshore oil exploration, where a staggering 88% success rate has shattered industry norms. With Shell, TotalEnergies, and Galp uncovering billions of barrels of oil, and Chevron set to drill 10 new wells, this promising region could reshape global oil dynamics. But can the law of averages keep pace with soaring expectations? Explore how these high-stakes ventures could impact future investments, oil prices, and the industry's long-term prospects in this deep dive into one of the world's most intriguing oil plays.

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Namibian oil boom – A potential game-changer in the global oil market ignites investor interest

Investors are eyeing Namibia's Orange basin as a potential game-changer in the global oil market. The Namibian oil boom, if sustained, could inject new life into exploration investments, potentially influencing global oil prices in the years ahead.

By Alan Livsey

Law of averages could catch up with explorers, as typical success rate for a series of offshore wells is around a third

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