PEL 83 Offshore – Orange Basin, Namibia

Highlights

  • The Kudu gas field holds proved reserves of 1.3 TCF (or 220 Mboe) with a further potential of 3-9 TCF.
  • Adjacent to Shell’s largest commercial find (Graff-1) in Africa since 1996 and 2nd largest globally in 10 years.
  • The license also lies north and east of Venus Discovery by TotalEnergies, currently has a 5-Year drilling plan estimated at $800M.
  • Galp secured the semi-submersible rig Hercules for two wells and commenced drilling in November 2023.
  • In early January, Galp confirmed the discovery of a significant column of light oil in reservoir-bearing sands of high quality at the Mopane-1X.
  • In mid March Galp confirmed the Mopane-2X discovery of three high quality reservoirs including the lateral extension of the Mopane AVO-1 reservoir.
Partners Participation Interest
Galp Energia (Operator) 80%
Inter Oil (Pty) Ltd.* 10%
NAMCOR 10%

* Effective Interest – On March 9th 2022, the Company completed the acquisition of 49% of Inter Oil (Pty) Ltd. resulting in an effective interest to Wittmeier Oil & Gas Engineering in PEL 83 of 5% carried interest.

PEL 83 Snapshot

Location Upper Orange Basin
Area 9,890 km2
Water Depth 250m – 2550m
Grant Date 02-Sep-16
Licence Term 5 years + 1 year extension + 2 renewal terms of 2 years
2D Seismic 5000 km
3D Seismic 6300 km2
Nearby Wells Mopane-1X, Mopane-2X (2024)
Enigma-1X (2024)
Jonker-1A, Jonker-2A (2023)
Lesedi-1X, Jonker-1X (2023)
La Rona-1X, Graff-1X (2022)