On the oil and gas front, exploration efforts were rewarded by three major breakthroughs in 2022 and 2023, with energy majors Shell, TotalEnergies and Qatar Energy announcing discoveries at the Venus-1X, Graff-1X and Jonker-1X wells. These finds have sparked an investor frenzy, with new Exploration and Production (E&P) companies entering the market and active explorers accelerating exploration campaigns. Canadian explorer ReconAfrica is rapidly progressing with its onshore upstream campaign in PEL 73 – announcing an updated prospective resource estimate of 22.4 trillion cubic feet last month. TotalEnergies is currently engaged in a multi-well appraisal and exploration drilling program in Block 2913B, while ExxonMobil and Chevron are expanding their Namibian acreage.