Chevron said on Tuesday that it did not find commercial hydrocarbon reserves in an exploration well in Namibia's Orange Basin.

Oil companies have flocked to the country, with recent offshore finds ranking among the largest this century, though exploration has been dealt some blows

This series of setbacks presents a challenge for Namibia's aspirations of becoming a major crude oil producer. ・Chevron's exploration well Kapana 1X in Namibia's Orange Basin did not yield commercial hydrocarbon reserves.

The well, situated in Block 2813B, governed by PEL 90 block, is operated by Harmattan Energy, an indirect subsidiary of Chevron.

Shell will write down around $400 million over an oil discovery offshore Namibia that it deemed commercially unviable in a blow to the southern African country's efforts to become a crude producer. Shell told Reuters that discovered oil and gas resources in offshore block PEL39 in Namibia "cannot currently be confirmed for commercial development.