Custos Energy updates progress on the exploration campaign in Namibia’s Orange Basin, highlighting it as one of the world’s most promising oil and gas regions.
Operator Galp Energia, together with its partners NAMCOR and Custos, has successfully drilled the Mopane-2X well to its designated depth on PEL 83. Drilling operations encountered a significant column of light oil in reservoirs of high quality. The AVO-3 exploration target, the AVO-1 appraisal target, and a deeper target were fully cored and logged.
The AVO-1 appraisal target found the same pressure regime as in the Mopane-1X discovery well located around 8 km to the east, confirming its lateral extension. The rig will now return to the Mopane-1X well location to conduct a drill stem test until early April. Galp will continue to analyze the acquired data during the coming weeks to assess the commerciality of the discoveries.
PEL 83 is located immediately north of PEL 39, home to Shell’s basin opening discoveries at Graff-1, La Rona-1, and Jonker-1. Additionally, it is located north and east of PEL 56, where TotalEnergies announced its giant oil discovery at Venus-1.
The blocks are governed by Petroleum Exploration License 83 (“PEL 83”), which is operated by a subsidiary of Galp Energia (“Galp”) of Portugal. Custos is a 10% working-interest owner in PEL 83, as is NAMCOR, the National Petroleum Corporation of Namibia.
“The continuing success of the exploration campaign, including a third light oil discovery and the appraisal results at the AVO-1 reservoir, 8 km away from the 1X location, further demonstrates the scope and potential of PEL 83. We extend our further congratulations to our partners Galp and NAMCOR,” said Knowledge Katti, Chairman and Chief Executive Officer of Custos.
“This is another significant milestone for Custos, positioning us for further growth and continued success underpinned by our unmatched position in the heart of the basin,” he added.
Maggy Shino, Petroleum Commission for the Ministry of Mines and Energy, stated that the latest discovery and successful appraisal at the upper target showcase the partners’ hard work and dedication, underscoring the potential for continued growth in the oil industry. This discovery brings them closer to unlocking the full potential of the campaign.
