Custos Energy has reported significant advancements in its second exploration and appraisal campaign within Namibia's Orange Basin, under Petroleum Exploration License 83 (PEL 83), uncovering hydrocarbon columns that could herald a new era for the region's energy sector. The Mopane-2A well, part of this campaign, discovered gas-condensate in the AVO-3 reservoir and light oil in AVO-4, with both reservoirs showing high-quality sands and favorable conditions for extraction, including minimal CO2 and no H2S presence.
The joint venture, led by Galp Energia, is now moving forward with drilling the Mopane-3X exploration well, targeting additional prospects. This step is supported by a high-resolution 3D seismic campaign aimed at evaluating the commercial viability of these discoveries. Knowledge Katti, Custos's Chairman and CEO, highlighted the campaign's success as evidence of the Mopane complex's potential, emphasizing its strategic importance for Namibia's energy future.
These discoveries are not just a milestone for Custos and its partners but could also significantly impact Namibia's economy, offering prospects for energy independence and economic growth. The involvement of NAMCOR and Custos, each holding a 10% stake in PEL 83, underscores the collaborative effort between national and international entities to harness Namibia's hydrocarbon potential.
The exploration in the Orange Basin is drawing global attention, positioning Namibia as a prospective player in the oil and gas industry. With the ongoing campaign and future developments, the region stands on the brink of potentially transformative changes in its energy landscape and economic trajectory.
