Curated News
By: NewsRamp Editorial Staff
October 24, 2024
Custos Energy Commences Second Exploration and Appraisal Campaign in Namibia’s Orange Basin
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- Custos Energy's second exploration and appraisal campaign in Namibia's Orange Basin could lead to a significant commercial discovery, providing a competitive advantage in the oil and gas industry.
- The drill ship Santorini has commenced operations for the Mopane 1-A well, part of a four well program to gain insights into the Mopane complex's scope and quality.
- Custos Energy is committed to creating a better and sustainable future for all, especially the stakeholder communities in Namibia, by focusing on supporting and providing opportunities for the youth.
- The inaugural two well exploration campaign resulted in multiple significant discoveries of light oil in high quality reservoir sands, positioning Mopane as a potentially important commercial discovery.
Impact - Why it Matters
This news matters as it signifies the commencement of a significant exploration and appraisal campaign in one of the world’s most prospective oil and gas regions. The potential commercial discovery at Mopane has far-reaching implications for the oil and gas industry and the sustainable future of Namibia’s offshore industry.
Summary
Custos Energy (Pty) Ltd. is excited to announce the commencement of the second exploration and appraisal campaign on blocks 2813A and 2814B in Namibia’s Orange Basin. The company, along with its partner Galp Energia, has commenced operations with the arrival of the drill ship Santorini and the spudding of the Mopane 1-A well. This campaign aims to provide additional insights into the scope and quality of the Mopane complex, following the successful inaugural exploration campaign.
The initial estimate of original oil in place (“OOIP”) of 10 billion barrels of oil equivalent, along with the successful drill stem test, positions Mopane as a potentially important commercial discovery. Custos Energy is committed to creating a sustainable future for all, especially the stakeholder communities in Namibia, and is looking forward to the progress and success of the Mopane 1-A well in the heart of Namibia’s Orange Basin.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Custos Energy Commences Second Exploration and Appraisal Campaign in Namibia’s Orange Basin
