Custos Energy has commenced drilling activities at the Mopane 2X exploration well, marking a significant milestone for the company and its partners.
The well is situated within the confines of Petroleum Exploration Licence 83 (PEL 83) in Namibia’s Orange Basin.
The activities bode well for the company and its partners, including Galp Energia and the National Petroleum Corporation of Namibia (NAMCOR).
The PEL 83 is operated under the supervision of a subsidiary of Galp Energia, and Custos Energy, which is owned by Namibian businessman Knowledge Katti.
NAMCOR has a 10% working interest.
Custos Energy Chairman and Chief Executive Officer, Knowledge Katti, expressed optimism about the venture.
“The significant prospectivity of PEL 83, together with its relatively shallow water depth, positions it to be one of the most significant and profitable opportunities in the Orange Basin. The ongoing progress on our licences underscores the unmatched quality of our portfolio in the heart of the Orange Basin,” Katti said.
Maggie Shino, Petroleum Commissioner at the Ministry of Mines and Energy, expressed excitement about testing the extension of proven Upper Cretaceous plays into PEL 83.
“We believe PEL 83 will continue to demonstrate the world-class scale and quality of plays in Namibia’s Orange Basin,” she stated.
The Mopane 2X well, the first of two in the drilling campaign, is being executed by the semi-submersible rig Hercules, operating under a contractual agreement covering two wells with optional testing.
Earlier this year, Galp Energia signed a N$911-million ($50 million) contract with SFL Corporation for the semi-submersible rig, establishing a crucial component of the ongoing exploration efforts.
PEL 83 is positioned immediately north of PEL 39, where Shell has made notable discoveries at Graff-1, La Rona-1, and Jonker-1, adding to the strategic significance of Custos Energy’s exploration activities.
Minister of Mines and Energy Tom Alweendo emphasised the importance of a safe and successful campaign, not only for the joint venture partners but also for the people of Namibia.
