Rhino Resources has extended its offshore drilling campaign in Namibia after amending its contract with Northern Ocean Ltd (NOL) to include an additional firm well test on the Deepsea Mira rig.
The amendment adds 28 days to the firm term of the existing contract and will be carried out before the three optional wells already planned.
The Deepsea Mira, owned by Northern Ocean and managed by Norwegian drilling company Odfjell Drilling, has been operating offshore Namibia since earlier this year.
“As a result, the firm term of the contract has been extended by a total of 28 days. This additional well test will take place prior to the existing three optional wells,” Northern Ocean said.
The move comes as Rhino Resources advances its appraisal and testing programme aimed at fast-tracking its recent discoveries towards first oil production by 2030.
The company plans to drill an appraisal well and conduct a flow test offshore Namibia next year, focusing on the Capricornus prospect, where light oil has previously flowed at 11,000 barrels per day.
A drill stem test is also scheduled for Volans, Rhino’s latest high liquid-yield gas condensate discovery.
Data from both the Capricornus and Volans wells will inform Rhino’s broader development strategy as it accelerates timelines amid growing regional competition from TotalEnergies, which is expected to make a final investment decision (FID) on its Venus field next year.
Rhino Resources is also assessing the potential for co-developing Capricornus and Volans, which are located about 15 kilometres apart, and plans to acquire additional seismic data to explore the Sagittarius trend further north.
Working in partnership with Azule Energy, the BP–Eni joint venture, Rhino aims to reach its own FID by late 2026 or early 2027. The company has already engaged with FPSO suppliers, who have indicated that a production unit could be commissioned in time for first oil by 2030.
Future developments are expected to be more cost-efficient due to Capricornus’s shallower depth and lower gas-to-oil ratio compared with the nearby Venus field.
