QatarEnergy announced an oil discovery with encouraging results from the Merlin-1X exploration well in the Petroleum Exploration License 39 (PEL 0039), offshore Namibia. The Merlin-1X well is the tenth to be drilled under this license and has delivered the most promising subsurface results to date, characterized by good reservoir quality, light oil, and limited associated gas.
Commenting on the discovery, His Excellency Saad Sherida Al Kaabi, the Minister of State for Energy Affairs and the President and CEO of QatarEnergy, stated that the organization is pleased with this discovery, which follows three earlier discovery announcements in Namibia. He noted that these results represent a significant step that further strengthens confidence in the Orange Basin as an emerging world-class hydrocarbon province and aligns with the strategy of QatarEnergy to expand its international upstream portfolio through high-impact exploration.
H.E. Minister Saad Sherida Al Kaabi extended his appreciation to the Government of the Republic of Namibia for its continued support of this exploration effort and congratulated the partners, Shell and the National Petroleum Corporation of Namibia, on this achievement.
Moreover, QatarEnergy holds interests in four offshore exploration licenses in Namibia, which collectively cover approximately 34,000 square kilometers. These include PEL 0039 with a 45 percent interest, PEL 0056 with a 35.25 percent interest, PEL 0091 with a 33.03 percent interest, and PEL 0090 with a 27.5 percent interest.