Custos Energy reveals promising oil findings in Namibia's Mopane complex
- Custos Energy recently completed the Mopane-1A appraisal well on PEL 83, providing promising results.
- The well has shown light oil and gas-condensate in high-quality reservoir sands, confirming previously estimat-ed hydrocarbon resources.
- These developments highlight the significant potential for Namibia's energy sector and the collaborative efforts of the involved stakeholders.
In Namibia, Custos Energy (Pty) Ltd. has provided an update on its second exploration and appraisal campaign related to Petroleum Exploration License 83 (PEL 83), which targets blocks 2813A and 2814B in the Orange Basin. The Mopane-1A appraisal well, which forms part of this initiative, was successfully drilled, cored, and logged between October 23rd and November 28th, 2024. This well encountered light oil and gas-condensate in high-quality reservoir sands, confirming the region's potential for significant hydrocarbon resources. Furthermore, initial estimates of original oil in place suggest there are around 10 billion barrels of oil equivalent in the area, indicating that this campaign could be crucial for the economic development of Namibia's energy sector. The successful results also signify ongoing commitment and efforts by Custos and its partners, including NAMCOR and Galp Energia, to enhance exploration activities, which are integral for the region's petroleum exploration strategy. The Mopane findings have encouraged further drilling plans and enhanced data collection as the joint venture partners prepare to kickstart additional exploration initiatives and a high-resolution proprietary 3D seismic campaign expected to begin in December 2024. The ongoing appraisal wells and discoveries underscore Namibia's evolving status in the global oil and gas landscape.