Galp, the operator of Petroleum Exploration License (PEL) 83 in Namibia’s Orange Basin, has announced that it will start drilling the first of two exploration wells by the end of 2023.
“In Namibia, we are getting ready to spud the first of two exploration wells by the end of this year. We secured the drilling rig and awarded the integrated oil services contract,” said Galp’s chief financial officer, Maria João Carioca, during the release of the company’s second-quarter results this week.
This comes as Galp has signed a N$911 million (US$50 million) contract with SFL Corporation for the semi-submersible rig Hercules.
Galp operates PEL 83 with an 80% interest, while Namibia’s National Petroleum Corporation has 10%, and Custos Energy, half-owned by Sintana, has a 10% stake.
PEL 83 is situated north of PEL 39, which is home to Shell’s basin opening discoveries at Graff-1, La Rona-1, and Jonker-1.
It is also situated north and west of PEL 56, where TotalEnergies announced its giant oil discovery at Venus-1. Both Shell and Total continue to progress exploration and appraisal activities on their blocks.
Businessman Knowledge Katti has an interest through his company, Custos Energy, a Namibian independent oil and gas exploration company focused on attracting investment and expertise to the Namibian offshore industry.
