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Exploration

Galp is planning to sell operatorship stake in Mopane's PEL 83. (Image source; Adobe Stock)

Following a difficult first quarter earnings, Portugal-based Galp Energia is on the lookout for potential partners to develop a discovery in Namibia 

In February, the company confirmed a significant presence of light oil and gas condensate in a fifth well in the Mopane field offshore Namibia. The discovery came as a major anticipation for the company, which has since wanted to take up feasibility studies within the Mopane region. 

Meanwhile, the company is also planning to sell operatorship stake in Mopane's Petroleum Exploration Licence 83 by as much as 80%. 

Volatile market

"A partnership is our natural and preferred next step. We are re-engaging with interested parties we have had conversations with before and data is now being shared with them," said Galp's co-chief executive officer, Maria Joao Carioca.

Incidentally, Galp has faced a 29% drop in adjusted first-quarter core profit. The company's first-quarter adjusted earnings before interest, taxes, depreciation and amortisation took a hit of dipping oil output and lower refining margins, with revenue falling to US$761mn. With refining margins recorded at US$5.60 a barrel in the quarter from the previous year's US$12, and a 41% decline in quarterly adjusted net profit, Galp has attributed the low results to an "increasingly volatile market environment".

The MOPU will be equipped with a purpose-built process package. (Image source: Adobe Stock)

To advance field development work in Benin, Akrake Petroleum Benin SA has signed contracts for a mobile production unit (MOPU) and an Aframax tanker that will serve as floating storage and offloading (FSO) unit

Having converted from a medium-sized drilling rig, the MOPU will be equipped with a purpose-built process package. The units are expected to arrive in Benin during the fourth quarter of 2025.

Lime Petroleum Holding AS, which owns Akrare, signed a contract for a modern built jack-up rig as the operator of the Seme Field in Benin. The rig will be used for an anticipated 120-day drilling campaign in Benin.
Akrake, which is also the indirect subsidiary of Rex International, holds an approximately 76% working interest in the Seme Field, and aims to submit a field development plan to the Ministry of Energy, Water and Mines so that production in the fieldcan be initiated in the second half of 2025. 

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TGS expands 3D seismic coverage in Benin 

Rex to seek financial advise from Hannam & Partners on Benin block

Laboratory studies will be conducted on fluid samples collected during the test. (Image source: Adobe Stock)

The Capricornus 1-X exploration well from Block 2914A that falls under petroleum exploration license (PEL85) in the Orange Basin, offshore Namibia has revealed good petrophysical properties 

The drilling for which the Noble Venturer drillship was used revealed no water contact as hydrocarbon samples and sidewell cores were collected through intensive wireline logging operations. 

Besides 38m of net pay, the well also put to a production test across the light oil-bearing reservoir. The well achieved a surface-constrained flow rate in excess of 11,000 stb/d on a 40/64” choke. The light ~37° API oil exhibited limited associated gas with less than 2% CO2 and no hydrogen sulphide.

Laboratory studies will be conducted on fluid samples collected during the test.

Azule Energy holds a 42.5% stake in the block, alongside co-venturers Rhino Resources (Operator, 42.5%), NAMCOR (10%), and Korres Investments (5%).

The well will now be temporarily plugged and abandoned, and the rig will be released.

Adriano Mongini, Chief Executive Officer of Azule Energy, said, “A successful exploration outcome such as this represents another significant step in Azule Energy’s exploration strategy. It underscores our commitment to unlocking the region’s energy potential while delivering value for all stakeholders. This achievement aligns with other key milestones, including the completion of the Agogo Integrated West Hub development and the landmark New Gas Consortium – Angola’s first nonassociated gas project.”

The partners are now focusing on a comprehensive analysis of the well results. (Image source: Adobe Stock)

The Marula-1X drilling operation on Block 2913B (PEL 56) offshore Namibia has been drilled to a total depth of 6,460 m (measured depth)

While the Albian aged sandstones within the Marula fan complex was targetted during the drilling campaign, there were no hydrocarbons found, eliminating the need for a drill stem test. 

This, however, is the same block that housed the site confirming the Venus light oil discovery. The drilling took place approximately 47 km south of the Venus-1X well for which the Deepsea Mira semi-submersible drilling rig was deployed. 

Exploring geological plays

The partners are now focusing on a comprehensive analysis of the well results.

Impact has a 9.5% interest in Blocks 2912 and 2913B in Namibia’s Orange Basin. Africa Oil through its 39.5% interest in Impact, has an effective interest of approximately 3.8% in these blocks. 

Africa Oil President and CEO, Roger Tucker, said, "The farm down agreement between Impact and TotalEnergies that completed last year, provides full carry of Impact’s exploration and development costs on Blocks 2912 and 2913B through to first commercial production from these blocks. This presents us with an attractive opportunity set to test different geological plays on these blocks at no upfront cost."

Bourdon is located approximately 15 kilometres west of FPSO BW Adolo. (Image source: BW Energy)

Recoverable barrels of oil from a well in the Bourdon prospect in the Dussafu Licence offshore Gabon have successfully surpassed millions following drilling 

The second sidetrack DBM-1 ST2 well that has been drilled by the Norve jack-up rig for BW Energy has revealed 56 million barrels oil estimates in place. Of these, approximately 25 million barrels are considered recoverable. 

Confirming the substantial oil discovery with good reservoir and fluid quality, Carl K Arnet, CEO of BW Energy, said, “The appraisal well confirms the potential for establishing a new development cluster with a production facility following the MaBoMo blueprint. We expect at least four producing wells.” 

“We continue to successfully expand the Dussafu reserve base which, together with multiple additional prospects yet to be drilled, will support long-term production and value-creation in Gabon.”

Surpassing expectations

Initial data shows that oil from Bourdon field has the lowest viscosity of the Dussafu discoveries measuring an average of 3.5 centipoise (cp), compared to 5 cp and 7 cp for the Hibiscus / Tortue and Ruche fields, respectively.

Evaluation of logging data and formation pressure measurements confirm approximately 11.2 metres of pay in an overall hydrocarbon column of 35.2 metres in the Gamba formation, drilled to a depth of 4,731 metres.

Bourdon is located approximately 15 kilometres west of FPSO BW Adolo and 7.5 kilometres southeast of the MaBoMo facility. The discovery will enable the Company to book additional reserves not included in its 2024 Statement of Reserves.

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