Katti promises community engagement after major oil discovery

Niël Terblanché

Custos Energy along with its partners Galp Energia and the National Petroleum Corporation (Namcor) latest exploration campaign in the Mopane complex off the coast of Namibia has confirmed extensive oil reserves which is shaping up to be one of the most significant global oil discoveries.

Knowledge Katti, the chief executive officer of Custos Energy, announced that the Mopane oil exploration license area, specifically within blocks 2813A and 2814B in Namibia’s Orange Basin, has revealed a production potential exceeding ten billion barrels of original oil in place.

He said that the discovery is not just a win for Custos Energy but a potential economic boon for Namibia.

According to Katti, the blocks, under Petroleum Exploration License 83 (PEL 83), are operated by Galp Energia of Portugal, with both Custos and the National Petroleum Corporation of Namibia (Namcor) holding a 10% interest each.

He said that the exploration efforts have successfully concluded the first phase with the Mopane 1X Well Testing operations, and have continued with promising results from the Mopane-2X well.

Katti pointed to the transformative potential of these discoveries for Namibia, noting the opportunities for local community development and poverty reduction.

He stated that Custos Energy is committed to working with local community trusts to ensure that the progress translates into tangible benefits for the people of Namibia.

This announcement follows a series of successful findings over the past months where significant columns of light oil were discovered, suggesting a highly prospective future for further exploration and development.

The Mopane complex alone, before additional exploration and appraisal wells are drilled, estimates the hydrocarbon in place at ten billion barrels of oil equivalent or higher.

Katti said that the campaign places PEL 83 near other notable explorations like Shell’s discoveries at Graff-1, La Rona-1, and Jonker-1, and TotalEnergies’ giant oil discovery at Venus-1, indicating a region ripe with potential.

“Custos Energy plans, as the next step, to integrate all acquired data from the current drilling campaign into an updated reservoir model to refine near-term drilling plans and further explore and develop the Mopane complex,” he said.

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