Galp’s Mopane strikes oil again
Third discovery
The billions Galp Energia is pumping into its hunt for oil offshore Namibia is paying off.
A second expedition in Galp Energia’s Mopane petroleum exploration licence (PEL 83) in the Orange Basin offshore Namibia has been completed and “a significant column of light oil in reservoirs of high quality” was found.
Galp will continue to analyse the acquired data during the coming weeks to assess the commerciality of the discoveries, Sintana Energy said in a statement.
Galp holds an 80% interest in PEL83, with Namcor and local business man Knowledge Katti’s Custos Energy each with 10%. Half of Custos belongs to Sintana Energy.
Two significant oil column discoveries were identified in the first well drilled in Mopane last year.
“The continuing success of the exploration campaign further demonstrates the scope and potential of PEL 83,” said Katti, chairman and CEO of Custos.
“This is another significant milestone for Custos positioning us for further growth and continued success underpinned by our unmatched position in the heart of the basin,” he added.
Testament
Namibia’s petroleum commissioner at the mines and energy ministry (MME), Maggy Shino, also commented on the Mopane 2X results: ““The announcement of another significant discovery and the appraisal success at the upper target is further testament to the hard work and dedication of the partners involved, as well as another demonstration of the potential for further growth in our oil industry. With this discovery, we are one step closer to harnessing the full potential of this campaign.”
According to Sintana CEO Robert Bose: “This third light oil discovery in the Mopane complex and the appraisal results at the AVO-1 reservoir 8 km away from the [Mopane] 1X location provide further evidence of the scale and quality of our exploration portfolio held through our local partners, including Custos.”
“We continue to be reminded of the timeliness of our entry into Namibia with the ongoing progress and success,” Bose added.
Speaking at an investors’ conference last month, Galp CEO Filipe Silva said the company will pump more than N$3 billion into its oil hunt in its Mopane prospect this year.
Galp will continue to analyse the acquired data during the coming weeks to assess the commerciality of the discoveries, Sintana Energy said in a statement.
Galp holds an 80% interest in PEL83, with Namcor and local business man Knowledge Katti’s Custos Energy each with 10%. Half of Custos belongs to Sintana Energy.
Two significant oil column discoveries were identified in the first well drilled in Mopane last year.
“The continuing success of the exploration campaign further demonstrates the scope and potential of PEL 83,” said Katti, chairman and CEO of Custos.
“This is another significant milestone for Custos positioning us for further growth and continued success underpinned by our unmatched position in the heart of the basin,” he added.
Testament
Namibia’s petroleum commissioner at the mines and energy ministry (MME), Maggy Shino, also commented on the Mopane 2X results: ““The announcement of another significant discovery and the appraisal success at the upper target is further testament to the hard work and dedication of the partners involved, as well as another demonstration of the potential for further growth in our oil industry. With this discovery, we are one step closer to harnessing the full potential of this campaign.”
According to Sintana CEO Robert Bose: “This third light oil discovery in the Mopane complex and the appraisal results at the AVO-1 reservoir 8 km away from the [Mopane] 1X location provide further evidence of the scale and quality of our exploration portfolio held through our local partners, including Custos.”
“We continue to be reminded of the timeliness of our entry into Namibia with the ongoing progress and success,” Bose added.
Speaking at an investors’ conference last month, Galp CEO Filipe Silva said the company will pump more than N$3 billion into its oil hunt in its Mopane prospect this year.
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