Galp’s Namibia exploration well shows positive hydrocarbon signs

Galp Energia has reported positive indications of hydrocarbons from its Mopane 1X exploration well.

 Galp began drilling the Mopane-1X probe on November 17 in Petroleum Exploration Licence (PEL) 93 as part of a two-well exploration campaign.

“The first well, Mopane-1X, indicates preliminary signs of hydrocarbon presence. Drilling and data acquisition campaigns are underway, making any conclusion premature before operations are completed and results assessed,” the Lisbon-based operator said.

The development follows Galp’s signing of a N$911 million (US$50 million) contract with SFL Corporation for the semi-submersible rig Hercules.

Galp operates PEL 83 with an 80% interest, while Namibia’s National Petroleum Corporation holds 10%, and Custos Energy, half-owned by Sintana, has a 10% stake.

PEL 83 is situated north of PEL 39, home to Shell’s basin-opening discoveries at Graff-1, La Rona-1, and Jonker-1. It is also positioned north and west of PEL 56, where TotalEnergies announced its giant oil discovery at Venus-1. Both Shell and Total continue to progress exploration and appraisal activities on their respective blocks.

Businessman Knowledge Katti has an interest through his company, Custos Energy, a Namibian independent oil and gas exploration company focused on attracting investment and expertise to the Namibian offshore industry.-miningandenergy.com.na