Shell has discovered enough oil in Namibia to commercialise, but is still hunting down the exact ‘sweet spot’ which can be developed first, chief executive Wael Sawan told analysts on Thursday.

Last month, Namibia’s petroleum commissioner Maggy Shino tempered expectations around the size of Shell’s Jonker and Graff discoveries in the Orange basin, suggesting they hold 300 million barrels and at least 200 million barrels of recoverable oil, respectively.