Rhino Resources is moving ahead with the appraisal of its Capricornus discovery offshore Namibia after confirming a high-quality light oil-bearing reservoir in the Orange Basin.
The company announced that it has contracted the Saipem 12000 to drill the Capricornus-1A appraisal well in Block 2914 under Petroleum Exploration Licence (PEL) 85.
The well is expected to test the extension of the Capricornus light oil discovery and assess the size of the accumulation, reservoir quality and fluid characteristics within Lower Cretaceous targets.
Rhino operates PEL 85 with a 42.5% stake. Its partners include Azule Energy with 42.5%, NAMCOR with 10%, and Korres Investments with 5%.
The appraisal campaign follows the successful Capricornus-1X well, which encountered high-quality light oil-bearing reservoirs and strengthened confidence in the commercial potential of the licence area.
Rhino said the Capricornus-1A well forms part of a broader drilling programme aimed at improving its understanding of the highly prospective PEL 85 acreage as it works towards potential development.
“The Capricornus-1A well represents a critical data point in defining the development potential of the Capricornus reservoir system and its possible integration with other discoveries made on PEL 85,” said Rhino Chief Executive Officer Travis Smithard.
He said wireline and drill stem test data collected from the well will be analysed alongside flow assurance, geomechanical and fluid studies to guide future development decisions.
“These datasets will support our ongoing evaluation of the Capricornus discovery and, together with insights from recent wells, will help shape our approach to further appraisal and development of the broader acreage alongside our partners,” Smithard said.
Rhino, a privately owned company based in Cape Town, is pursuing offshore opportunities in Namibia’s Orange Basin as competition intensifies among operators seeking to move discoveries towards first oil.
