May 22, 2024
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OIL & GAS

Namibia Confirms Discovery of Light Oil

Namibia’s exploration journey hits another win as light oil was discovered at the Mopane-1X well offshore. The discovery was announced by Portuguese oil and gas company, Galp.

According to Galp reports, as gathered by Sweetcruders, the discovery, made in the reservoir, bearing sands of high quality, prompts the company to initiate an assessment of the reserves’ commercial viability through a planned drill stem test in the coming weeks.

Recognising the immense potential of Mopane-1X and Namibia’s Orange Basin for world-class discoveries, Galp and its partners – Namibia’s national oil company, NOC, NAMCOR and Custos Energy are extending their drilling campaign with upcoming activities in the Mopane-2X well.

This is the sixth commercial oil discovery the country has recorded, following the hydrocarbon discoveries made by TotalEnergies in PEL 56 and Shell in PEL 39. The discovery opens doors for more exploration, jobs and more energy investments in Namibia, raising its status to a major frontier in the oil and gas market.

The African Energy Chamber, AEC, which is the voice of the African energy sector, congratulated  Galp and its partners for the discovery. The AEC described the discovery as a huge milestone for Namibia as it will enhance the country’s economic strength, by placing it as a major energy player in Africa and the world at large.

In addition to job creation, the discovery will expand the country’s export revenue. It will also be instrumental in realising the government’s objective of universal energy access by 2040 while ensuring the region has access to affordable energy, as about 45 per cent of Namibia’s population lack access to energy currently.

The Executive Chairman of the AEC NJ Ayuk, applauded the Namibian government for the support it has given to explorers so far. He urged other countries to look learn Namibia when it comes to exploration.

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