New oil discovery is a huge success for Custos Energy and partners – Windhoek Observer

Niël Terblanché

Custos Energy, in partnership with state-owned Namcor and Portuguese energy giant Galp Energia, announced their third light oil discovery in Namibia’s Orange Basin since the beginning of the year.

This latest find is a significant development for the Namibian oil and gas sector and has once again accentuated the region’s growing reputation as one of the world’s most promising areas for hydrocarbon exploration and eventual extraction.

According to Knowledge Katti, Chairman and CEO of Custos Energy, the new discovery is clear evidence of the potential of the oil block and is also a significant achievement for the partners involved.

In a statement, Kattis said, the discovery was made in the high-quality reservoirs of the Orange Basin, with Custos Energy and Namcor each holding a ten percent stake in the promising deposit.

This follows a series of successful explorations under the ongoing campaign on blocks 2813A and 2814B, which are part of Petroleum Exploration License 83 (PEL 83), operated by Galp.

“The continuing success of our exploration campaign, including this third discovery and the positive appraisal results at the AVO-1 reservoir, further highlights the scope and potential of PEL 83,” Katti said.

According to Katti, the Mopane-2X well was drilled to its designated depth, revealing a significant column of light oil in high-quality reservoirs.

The AVO-1 appraisal target demonstrated the same pressure regime as the Mopane-1X discovery well, located approximately eight kilometres to the east, confirming its lateral extension.

He added that the findings have propelled the partners to conduct further tests and analyses to assess the commercial viability of the discoveries.

PEL 83’s strategic location, immediately north of PEL 39 and near Shell’s and TotalEnergies’ significant discoveries, positions it as a key player in the region’s burgeoning oil and gas industry.

Maggy Shino, Petroleum Commissioner at the Ministry of Mines and Energy, lauded the discovery as a pivotal moment for Namibia’s oil sector.

“This significant milestone and the appraisal success are a testament to the dedication and hard work of our partners, paving the way for further growth in our industry,” she said.

Founded over a decade ago by Knowledge Katti, Custos Energy has been at the forefront of attracting investment and expertise to Namibia’s offshore industry.

In collaboration with the Knowledge Foundation, Custos is committed to fostering a sustainable future for Namibia, with a particular focus on supporting the youth of the nation.