Curated News
By: NewsRamp Editorial Staff
April 21, 2024
Custos Energy Announces Successful Conclusion of Mopane Exploration Campaign
TLDR
- Custos Energy's successful exploration campaign in Namibia's Orange Basin could potentially yield over 10 billion barrels of oil equivalent, offering a significant advantage in the oil and gas industry.
- The exploration campaign involved drilling wells in the Mopane complex, discovering significant oil columns with high-quality reservoir sands and analyzing reservoir data for future drilling plans.
- Custos Energy's exploration success in Namibia's Orange Basin has the potential to bring economic opportunities, reduce poverty, and improve livelihoods for the people of Namibia in an equitable and sustainable way.
- The Mopane exploration campaign has yielded significant light oil discoveries in high-quality reservoir sands, positioning it as one of the largest discoveries globally with potential in excess of 10 billion barrels of original oil in place.
Impact - Why it Matters
The successful exploration campaign by Custos Energy in Namibia's Orange Basin has the potential to significantly impact the global oil and gas industry. With the discovery of potential reserves exceeding 10 billion barrels of original oil in place, this news holds great promise for the energy sector and presents a unique opportunity for economic growth and development in Namibia.
Summary
Custos Energy (Pty) Ltd. has successfully completed the first phase of the Mopane exploration campaign in Namibia’s Orange Basin, with significant oil discoveries at two different levels. The company, along with its partners Galp Energia and NAMCOR, has found potential in excess of 10 billion barrels of original oil in place, positioning Mopane as one of the largest discoveries globally.
Source Statement
This curated news summary relied on content disributed by News Direct. Read the original source here, Custos Energy Announces Successful Conclusion of Mopane Exploration Campaign
