PORTUGUESE oil company Galp Energia announced on Sunday the successful conclusion of the first exploration phase in the Mopane field off the coast of Namibia, estimating a substantial reserve potential of at least 10 billion barrels of oil.
Galp revealed that testing operations conducted at the Mopane-1X well in January and the Mopane-2X well in March yielded promising results. The company reported the discovery of ‘significant light oil columns in high-quality reservoir sands’ in both wells, which are situated 8 kilometres apart along the Orange Basin coastline.
The testing operations achieved flow rates of up to the maximum limit of 14 thousand barrels per day, positioning Mopane as a potentially significant commercial discovery, according to Galp.
‘In the Mopane complex alone, and before drilling additional exploration and appraisal wells, hydrocarbon in-place estimates are 10 billion barrels of oil equivalent, or higher,’ Galp stated.
Galp holds an 80 percent stake in Petroleum Exploration Licence 83 (PEL 83), covering an area of nearly 10,000 square kilometres in the Orange Basin. This development represents a strategic move for Galp, which currently has substantial investments in offshore projects in Brazil and a natural gas venture in Mozambique’s Rovuma basin.
Furthermore, Galp hinted at plans to attract additional investors to its Namibian projects, envisioning the potential for large-scale operations in the region.
The Organisation of the Petroleum Exporting Countries and its allies (OPEC+), aiming to bolster its membership after losing key players like Angola in recent years, is eyeing Namibia as a potential addition. This move could elevate Africa’s oil output, positioning Namibia as a significant contributor to global oil production in the coming decade.