Which Majors Are Exploring Namibia in 2026?

In recent years, Sub-Saharan Africa has witnessed a renewed focus from major oil companies, driven by the need to secure new oil reserves amid fluctuating global prices. Namibia, in particular, has emerged as a hotspot for exploration due to its favorable geology and the success of recent drilling campaigns. The offshore success rate in Namibia has been impressive, with an 87.5% success rate from 2022 to 2026, underscoring the region's potential. Major players like Shell, TotalEnergies, Chevron, and QatarEnergy are actively pursuing exploration opportunities, with several significant discoveries already made. This trend is expected to continue into 2026, as these companies aim to capitalize on the promising geology of Namibia's offshore basins. The Orange Basin, Walvis Basin, and Lüderitz Basin are at the forefront of this exploration push, with multiple active blocks and upcoming wells planned. For investors, this presents a unique opportunity to engage with companies like Stamper Oil & Gas, which holds strategic interests in these areas.

The Orange Basin has gained significant attention due to its proximity to major discoveries made by TotalEnergies and Shell. Notably, TotalEnergies' Venus discovery in PEL 56, estimated to hold around 2 billion recoverable barrels, has positioned the Orange Basin as a critical area for future exploration. In 2026, Shell is set to drill its 10th well in PEL 39, the Deepsea Mira, which follows nine successful wells that have already found oil. This ongoing exploration activity is expected to further de-risk the surrounding areas, including Stamper's PEL 107, which is adjacent to Shell's block and holds a 32.9% working interest. The strategy for PEL 107 involves a farm-down to a supermajor while retaining a carried interest of 5-10%. As exploration intensifies in the Orange Basin, the potential for significant discoveries could enhance the value of Stamper's interests and attract further investment.

The Walvis Basin is another focal point for major oil companies, with significant exploration activities planned for 2026. Chevron's PEL 82, which is adjacent to Stamper's PEL 98 and PEL 106, is preparing for the Gemsbok-1 well, expected to be drilled in the second half of 2026. This well is anticipated to provide critical insights into the basin's geology and resource potential. Both PEL 98 and PEL 106 have a carried interest of 5%, meaning that while Stamper does not bear exploration costs, it retains a share of any production revenue if a discovery is made. The planned 3D seismic acquisition in PEL 106 will further enhance the understanding of the geological formations and could lead to more targeted drilling efforts. As Chevron and other supermajors ramp up their exploration activities in the Walvis Basin, Stamper stands to benefit from the increased drilling momentum and the potential for significant discoveries.

The Lüderitz Basin is also gaining traction, particularly with the Kudu/Kharas-1 well being drilled by BW Energy, which has confirmed light oil in November 2025. This discovery is expected to stimulate further exploration in the region, which is adjacent to Stamper's PEL 102, where the company holds a 20% carried interest. The strategic positioning of PEL 102 next to major players like TotalEnergies and Petrobras in PEL 104 could lead to collaborative exploration efforts and increased drilling activity. As the oil majors continue to explore and develop their assets in the Lüderitz Basin, Stamper's carried interest positions it to benefit from any successful discoveries. The potential for significant oil reserves in this basin adds another layer of opportunity for investors looking at the Namibian oil landscape.

As major oil companies ramp up their exploration efforts in Namibia, the implications for Stamper Oil & Gas are significant. With strategic interests in PEL 98, PEL 106, and PEL 102, Stamper is well-positioned to benefit from the increased drilling activity in these prolific basins. The company's carried interests allow it to participate in the upside of any successful discoveries without bearing the full financial burden of exploration costs. This model not only mitigates risk but also enhances the potential for substantial returns as the exploration landscape evolves. Additionally, the ongoing farm-down process for PEL 107 could provide Stamper with further financial flexibility and strategic partnerships with supermajors. As the exploration landscape in Namibia continues to unfold, investors should closely monitor the developments in these key basins and consider the potential impact on Stamper's valuation and growth prospects.