(Editors at Energy Analytics Institute, 11.Jan.2025) â Namibia’s Ministry of Mines and Energy issued an official statement saying that Shell will write down $400mn on an oil discovery made in Petroleum Exploration License (PEL) 39 in accordance with the company’s accounting principles.
Shell “encountered technical and geological difficulties in PEL 39, leading to the determination that discoveries made in some of the wells drilled were not viable for commercial development,” the ministry of the African country announced 11 Jan. 2025 in an official statement.
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