No need to Lament about the Oil Discovery in Namibia’s Kavango Basin. What About the Huge Benefits It Represents for Namibians? (By NJ Ayuk)
Six months ago, Canadian oil and gas company Reconnaissance Energy Africa Ltd. (“ReconAfrica”) began exploratory drilling in the deep Kavango Basin of northeast Namibia and into northwest Botswana. The company holds a total licensed area of 8.5 million acres in the area, and it hoped to find massive reserves of conventional oil in this thick Permian sequence.
In April, ReconAfrica released exciting preliminary data from its exploratory wells that confirmed an active petroleum system. According to Petro Online, “Analysts estimate the company could generate 120 billion barrels of petroleum on just 12% of this footprint, potentially outperforming the oil-rich Permian Basin in Texas if exploration continues.”
The giant onshore reserves of conventional oil and gas means that normal production...