Allexer Namundjembo
Custos Energy (Pty) Ltd has announced another milestone in its oil exploration and appraisal campaign on Blocks 2813A and 2814B, situated in the Orange Basin.
The Orange Basin, recognised as one of the world’s most promising oil and gas frontiers, continues to unveil its vast potential.
Walvis Bay-born businessman Knowledge Katti, who is the chairman and CEO of Custos, expressed the company’s enthusiasm about the findings.
“The continuing progress on PEL 83, including the results from the Mopane-1A appraisal well, further unveil the potential and quality of the Mopane complex,” he said.
The well was spud on October 23 and completed on November 28, where it encountered light oil and gas condensate in high-quality reservoir-bearing sands.
The results indicated excellent reservoir characteristics, with good porosities, high permeabilities, high pressures, and low oil viscosity.
The well showed minimal CO2 and no H2S concentrations, confirming the promising potential of the region.
“The ongoing campaign with additional wells to come is the next chapter of progress on our world-class portfolio at the heart of Namibia’s Orange Basin.”
Katti said the Mopane-1A well adds to earlier successes from the Mopane-1X and Mopane-2X wells, further confirming the extension and quality of the AVO-1 reservoir.
“Together with previous discoveries, the joint venture has estimated original oil in place (OOIP) of 10 billion barrels of oil equivalent, making the area a prime candidate for commercial development. The ongoing exploration and appraisal efforts will be complemented by a high-resolution proprietary 3D seismic campaign set to begin in December,” he added.
The report further indicated that the exploration was a success, and a drill stem test conducted during earlier phases resulted in an infrastructure-constrained flow rate of 14,000 barrels of oil equivalent per day (boe/d), underscoring the potential commercial viability of the field.
Maggy Shino, Petroleum Commissioner of the Ministry of Mines and Energy of Namibia, also welcomed the progress.
“The results from the Mopane-1A appraisal well mark another significant milestone for Namibia’s energy sector. We are pleased with these results and look forward to continued success on PEL 83,” Shino said.
Custos Energy continues to develop its Namibian offshore portfolio with international partners, and the company remains committed to contributing to the sustainable development of the local communities.
Founded over a decade ago by Katti, Custos has made significant strides in attracting investment and expertise to Namibia’s offshore industry.
The blocks are governed by Petroleum Exploration License 83 (PEL 83), operated by a subsidiary of Galp Energia of Portugal, with Custos holding a 10% working interest, alongside NAMCOR, the National Petroleum Corporation of Namibia.
The joint venture partners, including Galp, NAMCOR, and Custos, recently completed drilling the Mopane-1A appraisal well (Well #3).
