Custos Energy has initiated a second exploration and appraisal campaign in Namibia's Orange Basin, a region gaining recognition for its oil and gas potential. The campaign started with the drilling of the Mopane 1-A well, located on blocks 2813A and 2814B under Petroleum Exploration License 83 (PEL 83). This license is managed by a Galp Energia subsidiary, with Custos Energy and NAMCOR each holding a 10% stake.
This follow-up campaign builds on the success of an earlier exploration in 2024, which uncovered significant light oil reserves estimated at 10 billion barrels of oil equivalent. The initial phase also demonstrated the basin's high-quality reservoir conditions, with a drill stem test yielding a flow of 14,000 barrels of oil equivalent per day. The current phase aims to drill up to four wells to further assess the Mopane complex's potential.
Knowledge Katti, Custos Energy's Chairman and CEO, highlighted the campaign's importance in understanding the Mopane complex's scope and quality. The exploration not only signifies a pivotal moment for Custos Energy and its partners but also for Namibia's burgeoning oil and gas sector. Discoveries in the Orange Basin could elevate Namibia's status in the global energy market and spur economic growth.
Custos Energy, a pioneer in Namibia's offshore oil discovery, continues to play a vital role in developing the country's energy resources. The company's efforts, supported by the Knowledge Foundation, aim to foster sustainable development and create opportunities for Namibia's youth. The success of this exploration could mark a transformative period for Namibia, offering new avenues for economic and social advancement.
