“We think that the Kavango West 1X prospect represents our best opportunity in the Damara Fold Belt to unlock the potential of this play, and we look forward to reporting results, expected before year-end 2025,” said ReconAfrica president and CEO Brian Reinsborough.
Namibia is aiming to raise local content and carried participation in the oil and gas sector from 10 percent to 15 percent by 2030, as the country prepares to leverage its petroleum discoveries for national development. In the next five years, the government of Namibia plans to increase carried participation from 10% to 15%.
Portugal’s Galp Energia has begun receiving offers for its massive Mopane oil discovery off Namibia’s coast, signaling that one of Africa’s most promising new hydrocarbon frontiers could be edging closer to commercial production. The company told investors earlier this month it’s in advanced talks with potential buyers and expects to announce a sale later this year. Galp controls an 80% stake in Mopane and, according to Bloomberg, is preparing for a development that could involve two floating production storage and offloading (FPSO) units, each pumping around 120,000 barrels a day.
BW Energy, together with NAMCOR E&P, has contracted Odfjell’s Deepsea Mira semisubmersible rig for the drilling of the Kharas appraisal well on the Kudu license (PPL003) offshore Namibia in the Orange Basin, scheduled for the second half of 2025.
“The government recognizes the complexities and high costs associated with the development of the Venus oil field by TotalEnergies,” Kornelia Shilunga, special adviser and head of upstream petroleum unit in the Namibian Presidency, said in a reply to questions.
Canada’s Stamper Oil & Gas will acquire BISP Exploration for an indirect stake in five offshore Namibian blocks, Stamper said on Wednesday.
“The farm-down agreement between Impact and TotalEnergies that was 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”, Africa Oil President and CEO Roger Tucker said.
“Prospect I is one of the largest mapped structures in the Damara Fold Belt, is well imaged from 2D seismic, and demonstrates a four-way dip closure in which we expect to penetrate over 1,500 meters of Otavi reservoir. Drilling at the Prospect I location has been significantly derisked by the results of our first Damara Fold Belt well, Naingopo, which encountered reservoir in the Otavi carbonates, hydrocarbon shows and oil to surface. We are excited to drill this follow-on exploration well as we continue to look to unlock the significant hydrocarbon potential of the Damara Fold Belt.”
Namibia’s offshore oil and gas industry is set for significant growth in 2025, driven by new licensing opportunities and an uptick in drilling activities, Petroleum Commissioner Maggy Shino announced during a webinar hosted by the African Energy Chamber, Wood Mackenzie and Namibia’s Ministry of Mines and Energy. The move is set to attract fresh investment as the country cements its status as one of the world’s most promising oil frontiers.
Galp has successfully drilled, cored and logged the Mopane-3X well offshore Namibia and confirmed the presence of light oil and gas condensate in significant quantities, the company announced on Tuesday.