Portuguese oil and gas company Galp Energia has announced a light oil discovery at the Mopane-1X exploratory well in the Orange Basin, offshore Namibia.
This marks the first well drilled in PEL 83, a promising area for hydrocarbon exploration.
Galp plans to conduct a drill stem test in the upcoming weeks to determine the well's commercial viability.
The ongoing drilling operations at Mopane-1X aim to investigate deeper geological targets.
Following the completion of these operations, the drilling rig will move to the Mopane-2X site to continue assessing the discovery's potential.
Galp, as the operator, holds an 80% interest in PEL 83.
The remaining stakes are equally divided between the National Petroleum Company of Namibia (NAMCOR) and Custos Energy, with each holding a 10% share.
NAMCOR interim managing director Shiwana Ndeunyema said: "This is an amazing time for Namibia and NAMCOR. The Mopane-1X discovery is not just a significant achievement for our organisation but also a beacon of hope for the entire nation's economic future."
Custos chairman and CEO Knowledge Katti said: “The preliminary results of the initial exploration campaign on PEL 83 demonstrate the expanding scope and potential of Namibia’s Orange Basin.”
PEL 83's strategic location is positioned immediately north of PEL 39, which includes Shell's significant discoveries at Graff-1, La Rona-1 and Jonker-1.
Furthermore, PEL 83 lies adjacent to PEL 56, block 2913B, where TotalEnergies recently reported a substantial oil find at the Venus-1 well, highlighting the region's hydrocarbon potential.
Earlier this week, TotalEnergies announced plans to increase its participating stake in Namibian offshore blocks 2913B and 2912.
The French energy giant will raise its participating interest by 10.5% in block 2913B and 9.39% in block 2912, increasing the stake to 45.25% in block 2913B and 42.5% in block 2912.
