The well was drilled to a total vertical depth of approximately 4,030 metres. (Image source: Adobe Stock)

The S-6 (Akeng Deep) exploration well at Block S offshore Equatorial Guinea has been declared a sub-commercial discovery by Panoro Energy and partners, following the completion of drilling and data evaluation 

Drilled to a total vertical depth of approximately 4,030 metres, the well revealed oil zones in the Upper Albian. The drilling was facilitated by the Noble Venturer drillship. 

At Block G, first oil from the Okume infill well was achieved mid-November with production ramp-up ongoing. The Ceiba infill well was brought online by the Block G operator, Trident Energy, mid-October and is performing ahead of expectations.

This marks the end of the 2024 drilling campaign in Equatorial Guinea.

Active petroleum system

John Hamilton, CEO of Panoro, said, "Although the Akeng Deep well did not result in a commercial discovery, the identification of oil in the Upper Albian confirms elements of an active petroleum system and the data provide valuable insights into the potential of the Lower Cretaceous. The well results at S-6 will now be integrated into our subsurface models to refine future exploration and appraisal activities in the basin. At Block G we are pleased to report that both new infill wells at the Ceiba field and Okume Complex are onstream with the Ceiba well performing ahead of expectations and the Okume Complex well ramping up and set to add additional volume.” 

The company has drilled beyond the original projected total depth of 3,800 m. (Image source: Adobe Stock)

Reconnaissance Energy Africa Ltd has reached total depth of 4,184 metres (13,727 feet) on the Naingopo exploration well on Petroleum Exploration Licence 073 (PEL 73) onshore Namibia

Brian Reinsborough, president and CEO of the company, said, "We are excited to have completed the drilling operations on the Naingopo exploration well, drilling beyond our original projected TD of 3,800 metres. The Naingopo well is the first of several to test the potential resource of the Damara Fold Belt. We will now commence an extensive evaluation programme, which will include wireline logging and coring, modular formation dynamics tester (MDT) sampling and testing of any hydrocarbons present, and a Vertical Seismic Profile (VSP). Our technical team will then assess all data to determine the results, which will assist us in finalizing further plans in the Damara Fold Belt." 

The next step involves a comprehensive logging and coring programme, and perform a VSP, followed by casing and cementing the well. Results of the well will be provided following a thorough analysis of the subsurface data acquired and any obtained oil or natural gas samples. We expect to have the preliminary results of the Naingopo well in the next several weeks. 

The Jarvie -1 drilling rigs will undertake repair and maintenance activities in December 2024. We expect to move to the Kambundu (Prospect P) well location after completing the review of the results from current operations.

Blocks 2913B and 2912 are located about 300 kms offshore Namibia. (Image source: QatarEnergy)

QatarEnergy has entered into an agreement with TotalEnergies to acquire an additional 5.25% interest in block 2913B (PEL 56) and an additional 4.695% interest in block 2912 (PEL 91), both located in the Orange Basin, offshore Namibia

Subject to customary approvals, QatarEnergy’s participating interests in both licenses will increase to 35.25% in block 2913B and 33.025% in block 2912. TotalEnergies (the operator) will hold 45.25% in block 2913B and 42.475% in block 2912. The other partners in the two licenses are Impact Oil & Gas, holding 9.5% in each of the two licenses and the National Petroleum Corporation of Namibia (NAMCOR), holding 10% in block 2913B and 15% in block 2912.

QatarEnergy's relationship with NAMCOR goes way back, when the parties agreed to support and develop a sustainable upstream oil and gas sector in Namibia, which also included training and development of NAMCOR employees in industry-based skills.

Developing Venus discovery

"We are pleased to expand QatarEnergy’s footprint in Namibia’s upstream sector. This agreement marks another important step in working collaboratively with our partners towards the development of the Venus discovery located on block 2913B,” said Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, and president and CEO, QatarEnergy.

"I would like to take this opportunity to thank the Namibian authorities and our partners for their support and we look forward to delivering on our exploration and potential development programme,” he said.

Blocks 2913B and 2912 are located about 300 kilometers offshore Namibia, in water depths ranging from 2600 to 3800 meters. 

Blocks in the Namibian Orange Basin continue to see heightened activities. 

Impact now holds a 9.5% interest in each of Blocks 2912 and 2913B. (Image source: Impact Oil & Gas)

Impact Oil & Gas Limited has completed the farm out of its interests in Blocks 2912 and 2913B offshore Namibia to TotalEnergies EP Namibia BV

This development was made possible following the receipt of relevant regulatory approvals from the Government of Namibia and consent from joint venture partners.

The farm out agreement between Impact Oil and Gas Namibia (Pty) Ltd and TotalEnergies EP Namibia BV dates back to 10 January 2024, wherby the decision was reached for the sale of a 9.39% undivided participating interest in Block 2912, and a 10.5% undivided participating interest in Block 2913B.

The transaction provides Impact with a carry loan for all of its remaining development, appraisal and exploration costs on the Blocks from 1 January 2024, until the date on which Impact receives the first sales proceeds from oil production on the Blocks. The carry loan is repayable from a share of Impact’s after-tax cash flows, and net of all joint venture costs, including capital expenditures, from production on the Blocks. In addition, on completion of the transaction, Impact received approximately US$99mn from TotalEnergies, as reimbursement for its share of costs incurred on the Blocks net to the farm out interests, prior to 1 January 2024.

Following completion of this transaction, Impact holds a 9.5% interest in each of Blocks 2912 and 2913B.

Siraj Ahmed, CEO of Impact, said, “We are pleased to have received approval from the Government of Namibia for our farm-out and look forward to continuing our journey towards first oil in Namibia. This is a transformational transaction for the company, securing Impact’s future participation in this exciting play. Additionally, this transaction, through the carry, gives Impact a funded exposure to further significant exploration opportunities in the Blocks, starting with the recently spud Tamboti-1X well.

“We look forward to continuing our longstanding partnership with NAMCOR, TotalEnergies and QatarEnergy, and would like to thank the TotalEnergies team for their ongoing collaboration.” 

This transaction serves Impact's ambition for transition from an exploration company to a hydrocarbon-producing company.

3D seismic raises promising prospects

With the successful penetration and testing of four drilled wells since the 2022 Venus-1X discovery, planning is on for the first development area to be finalised by 2025 end.

Data is currently being processed for interpretation from the licenced area over the southern and northern parts of the combined blocks, most of which are now covered by 3D seismic. 

TotalEnergies has recently extended its contract with Northern Ocean for DeepSea Mira, which has already unlocked significant additional resource in the north of Block 2913B after spudding the Tamboti-1X well. Further deployment of the semi-submersible drilling unit might be required once prospects in the southern part of the Blocks that are currently being matured by the recent 3D-seimic data possibly heighten chances of potential high impact exploration wells.