Drilling and exploration giant Saipem says Namibia represents a strategic market, recognising its significant potential for hydrocarbon exploration, development and future production.
This comes as Galp Energia has contracted the company’s Santorini drillship for a single-well exploration campaign in Namibian waters this quarter.
“Namibia represents an exciting new strategic market for Saipem, given its vast potential for exploration, operational activity, and future production,” said Saipem’s CEO Alessandro Puliti.
The Santorini drillship arrived off the coast of Namibia on 23 October. The deployment follows Galp’s significant oil discovery in the region, estimated to contain at least 10 billion barrels of oil and gas equivalent.
Previously engaged in the development of Eni’s Baleine field offshore Côte d’Ivoire, the vessel is owned by Saipem and is renowned for its capabilities in ultra-deepwater drilling.
The Santorini boasts a payload capacity exceeding 20,000 tonnes, reducing the frequency of supply vessel trips and thereby cutting operating costs.
Additionally, its advanced well-control equipment and accommodations for 215 personnel make it well-suited for the challenging conditions expected at the Mopane Complex.
Galp holds an 80% stake in Petroleum Exploration Licence 83 (PEL 83), covering nearly 10,000 square kilometers in the Orange Basin.
Namibia’s national oil company, NAMCOR, and the independent exploration group Custos each hold a 10% interest.
As of the first half of 2024, Galp Energia has invested approximately N$2.1 billion in upstream projects in Namibia.
