Chevron said on Wednesday 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

CVX's Kapana 1X exploration in Namibia fails to yield commercial reserves but provides valuable geological insights.

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.