Namibia has achieved a significant milestone in its exploration efforts, as Galp, a Portuguese multinational energy corporation, has announced the discovery of light oil at the Mopane-1X exploration project in Petroleum Exploration License (PEL) 83 in the Orange Basin. This marks Namibia’s sixth commercial oil and gas discovery and further solidifies its status as a frontier oil and gas market.
Galp has reported that the discovery, made in reservoir-bearing sands of high quality, has prompted the company to initiate an assessment of the reserves’ commercial viability through a planned drill stem test in the coming weeks. Recognizing the potential of Mopane-1X and Namibia’s Orange Basin for world-class discoveries, Galp and its partners, including Namibia’s national oil company (NOC) NAMCOR and Custos Energy, are extending their drilling campaign with upcoming activities in the Mopane-2X well.
The African Energy Chamber (AEC) congratulates Galp and its partners for the discovery, seeing it as a substantial advancement in positioning Namibia as a major energy player in Africa and on the global stage. The AEC believes that the discovery will greatly contribute to enhancing the country’s economic strength and gross domestic product growth by fortifying local and regional energy security, creating job opportunities, and expanding export revenue.
NJ Ayuk, the Executive Chairman of the AEC, praised the Namibian government, ministry, and NOC for their efforts in enabling explorers, emphasizing the stable environment and encouragement of companies and investors. The AEC sees Namibia as an example for other African states when it comes to exploration.
The discovery of light oil at Mopane-1X further demonstrates the commercial potential of offshore oil and gas in Africa. With six discoveries made in less than two years, Namibia is a testament to the role and future oil and gas plays in Africa. The AEC is optimistic about Namibia’s hydrocarbon future and urges exploration companies and government to work together to fast-track the development of these critical resources.
The AEC stands with Namibia in its endeavor to explore and exploit oil and gas resources to address energy security issues and maximize industrialization, seeing the country’s resources as key to expanding economic growth and advancing socioeconomic development in Namibia and across the southern African region.
Distributed by APO Group on behalf of African Energy Chamber.