Rhino Resources and its partner Azule Energy plan to drill a new offshore exploration well, Volans-1X, in Namibia’s Orange Basin by late July or early August, the company has confirmed.
The company’s CEO said the Volans prospect is seen as a key target with strong development potential, particularly because its geological structure may allow for easier oil extraction compared to previous sites.
The announcement follows Rhino’s recent light oil discovery at its Capricornus-1X well in April, marking the company’s second successful strike in the Orange Basin.
“If Volans-1X fails, we may appraise the Sagittarius prospect, drill another lead, or return to Capricornus,” Travis Smithard said.
Rhino Resources operates Petroleum Exploration Licence (PEL) 85 alongside Azule Energy, a joint venture between BP and Eni, Namibia’s state-owned oil company Namcor, and Korres Investments.
Namibia has recently gained attention as a major offshore exploration hub, with companies such as Shell, Galp Energia and TotalEnergies reporting significant discoveries in the region.
TotalEnergies is expected to make a final investment decision on its deep-water Venus prospect in 2025, as Namibia positions itself to achieve its first oil production before the end of the decade.
Rhino Resources, a privately owned exploration company focused on providing low-cost energy solutions across Africa, is currently carrying out a two-well drilling campaign on PEL 85. Further drilling activities will depend on the success of the initial wells.
