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TotalEnergies has announced a discovery of light oil offshore of Namibia with "very promising initial results".
The so-called Venus discovery well was drilled by TotalEnergies, as the operator, on behalf of a joint venture group comprising TotalEnergies QatarEnergy Impact Oil and Gas Namibia and Namcor, Namibia’s national petroleum corporation.
The discovery follows on a recent discovery by Shell and partners at the nearby Graff-1 well and serves to confirm the enormous potential of the Orange Basin as a major oil and gas source.
TotalEnergies owns an important position in the basin both in Namibia and South Africa.
The discovery sits approximately 290 kilometres off the coast of Namibia, in the deep offshore. The well was drilled to a total depth of 6 296 metres and encountered a high-quality, light oil-bearing sandstone reservoir with “84 meters of net oil pay”. Siraj Ahmed, CEO of Impact Oil & Gas, said in a statement that the results had “exceeded pre-drill expectations”.
"It's between 1.5 billion and 2 billion barrels of light oil. That is an absolute monster," one industry expert told Fin24.
“This play-opening discovery firmly places the deep-water Orange Basin as one of the world’s most exciting areas for hydrocarbon exploration, and validates Impact’s focus on the highly prospective Southern Africa Cretaceous oil and gas play, which extends from southern-most Namibia to the east coast of South Africa”, said Philip Birch, Impact’s exploration director.
TotalEnergies said a comprehensive coring and logging program has been completed and will enable the preparation of appraisal operations designed to assess the commerciality of the discovery.
