In a major agreement, Chevron Namibia Exploration Limited has now entered Petroleum Exploration License 82 (PEL 82) with an 80% working interest and operatorship
The National Petroleum Corporation of Namibia, NAMCOR, and Custos will each maintain a 10% carried interest in PEL 82, with Sintana Energy retaining a 49% indirect interest in Custos.
PEL 82 governs blocks 2112B AND 2212A located in the Walvis Basin, offshore Namibia.
One of the Walvis Basin’s most prospective sites, PEL 82 boasts of 70% of an already existing extensive seismic – over 3,500 km of 2D and 9,500 sq km – of 3D data.
Previous drilling activity on PEL 82 included the Murombe-1 and Wingat-1 wells.
Results confirmed regional extension and presence of the Barremian-Aptianoil-prone source rock (Kudu shale).
The Murombe-1 penetrated the Baobab sands with approximately 20% porosity.
The Wingat-1 well recovered 38-41 degree API oil to surface.
Opportunities outside Orange Basin
“We are pleased to announce the continuing expansion of our in-country partnership with Chevron through their entry in PEL 82. This is one of the most advanced and interesting opportunities offshore Namibia outside of the Orange Basin,” said Knowledge Katti, chairman and CEO of Custos. “We are pleased to see our efforts over the last decade on PEL 82 result in this important step forward adding further to Namibia’s world class offshore opportunity,” he added.
The Namibian offshores is increasingly becoming a hotbed of activities with both local and independent operators showing interests.
