NAMCOR hits jackpot on another oil discovery

Martin Endjala

The National Petroleum Corporation Company (NAMCOR), in partnership with Galp Energia Operators and Custos, made an exciting announcement yesterday, revealing a significant oil discovery in the Mopane-1X exploration well, located in PEL83, the Orange Basin, offshore Namibia.

This exciting discovery comes on the heels of the initial announcement made on January 2, 2024. PEL 83 JV partners have now officially confirmed the presence of a substantial column of light oil in high-quality, reservoir-bearing sands within the Cenomanian-Turonian interval.

This marks the second oil discovery in the Upper Cretaceous Orange Basin, showcasing a functional petroleum system in the Upper Cretaceous in addition to the proven hydrocarbon presence established by the 2022 oil discoveries in the Lower Cretaceous.

The significance of this discovery cannot be overstated, as it signifies a pivotal moment in Namibia’s journey towards becoming a prominent player in the global energy market.

The PEL 83 JV partners are set to continue analyzing the acquired data and plan to conduct a Drill Stem Test (DST) in the coming weeks. This test is of paramount importance as it will assess the commercial potential of the discovery, ultimately determining the next steps for the Mopane-1X drilling operations.

Upon the successful completion of these operations, the drilling rig will be relocated to the Mopane-2X site to further evaluate the extent of this promising discovery.

NAMCOR’s Acting Managing Director, Shiwana Ndeunyema, stressed the critical nature of the upcoming DST and its potential impact on the project’s future.

He expressed his enthusiasm for the positive outcomes of this discovery, not only for NAMCOR but also for the entire nation’s economic prospects.

“This is an exceptional moment for Namibia and NAMCOR. The Mopane-1X discovery is not only a significant achievement for our organization but also a beacon of hope for our nation’s economic future. We are immensely pleased with these results and excited about the potential opportunities that lie ahead for our country,” Ndeunyema said.

He reiterated that NAMCOR is committed to its mission of exploring and responsibly developing Namibia’s petroleum resources.

He added that the latest oil discovery stands as a testament to the organization’s dedication and expertise in advancing the nation’s energy prospects.

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