Custos Energy gives update on the ongoing exploration campaign on blocks 2813A and 2814B located in Orange Basin, Namibia
The blocks are governed by Petroleum Exploration License 83 (PEL 83) which is operated by a subsidiary of Galp Energia (Galp) of Portugal.
Working interests are also held by Custos(10%) and the National Petroleum Corporation of Namibia (10%).
Sharing an update from the Mopane oilfield, which is a part of the PEL83, Custos notified that Mopane 1X well testing operations have been concluded. Discovered in January, it showed significant oil columns containing light oil in high-quality reservoir sands at two different levels: AVO-1 and AVO-2.
PEL 83 is located immediately north of PEL 39, which is home to Shell’s Graff-1, La Rona-1 and Jonker-1 discoveries. Additionally, it is located north and east of PEL 56 where TotalEnergies announced its giant oil discovery at Venus-1.
Major global-scale discovery
“The successful culmination of the exploration campaign at Mopane, including a well test reaching the maximum allowable limit, further demonstrates the scope and potential of PEL 83. With the current discoveries alone containing potential in excess of 10 billion barrels of original oil in place, Mopane is one of the largest discoveries globally,” said Knowledge Katti, chairman and CEO of Custos. “The success of this exploration campaign clearly demonstrates the opportunity this industry can bring to the people of Namibia, including in particular young Namibians. Custos looks forward to working with local community trusts to ensure that this progress improves livelihoods and opportunities while reducing poverty in an equitable and sustainable way. We are proud and honoured to lead these initiatives.”