Shell, the UK-headquartered energy giant, has announced significant oil and gas discoveries in the UK North Sea and offshore Namibia. In the UK North Sea, Shell's recent post-well analysis of the Pensacola gas prospect revealed a nearly doubled estimate of oil and gas resources. The discovery, operated by Shell with partners Deltic Energy and ONE-Dyas, is estimated to contain gross P50 initially in-place volumes of 342 million barrels of oil equivalent. This represents almost double the volume of recoverable gas and oil previously thought.

In Namibia, Shell has made its fourth hydrocarbon discovery with the completion of the Lesedi-1X exploration well. While further evaluation is needed to determine the development potential, Shell's exploration efforts in the Orange Basin have been successful. Shell, along with TotalEnergies, has made significant discoveries in the region, positioning Namibia as a potential future oil producer. These discoveries have the potential to double Namibia's economy in the next two decades.

In addition to the discoveries, Shell has received approval to drill more exploration and appraisal wells in Namibia. The company plans to drill two further wells in the country by the third quarter of this year. The government's support for increased exploration activity reflects the promising outlook for hydrocarbon resources in Namibia.

The successful discoveries in both the UK North Sea and offshore Namibia highlight Shell's continued commitment to exploration and its pursuit of new oil and gas resources. These developments have the potential to transform the energy landscape in these regions and contribute to future energy supply.