Custos Energy has initiated a second exploration and appraisal campaign in Namibia's Orange Basin, a region gaining recognition for its oil and gas potential. The campaign started with the drilling of the Mopane 1-A well on October 23rd, targeting blocks 2813A and 2814B under Petroleum Exploration License 83 (PEL 83). This license is a collaboration between Galp Energia's subsidiary, Custos Energy, and NAMCOR, each holding a stake in the venture.
This phase builds on the success of the initial 2024 exploration, which uncovered light oil in high-quality reservoirs and estimated 10 billion barrels of oil equivalent. The previous campaign's drill stem test achieved a flow of 14,000 barrels per day, showcasing the basin's potential. The current effort aims to drill up to four wells to further assess the Mopane complex's quality and scope, with early findings indicating favorable conditions such as good porosity and high permeability.
Knowledge Katti, Custos Energy's Chairman and CEO, highlighted the campaign's significance in understanding the Mopane complex's world-class opportunity. The exploration not only advances Custos Energy's objectives but also bolsters Namibia's emerging oil and gas sector, potentially elevating its global energy market standing and economic prospects.
Founded by Katti, Custos Energy is pivotal in developing Namibia's offshore resources, with a focus on sustainable growth and youth opportunities. As the first Namibian company to discover oil locally, its ongoing efforts are crucial for harnessing the country's offshore potential, promising transformative economic and developmental benefits.
