General Thoughts, page-3673

What lies north of Galp's mopane?

Namibia: Galp to drill four new wells on huge discovery and is already talking of multi-FPSO project

"Portuguese player justifies Mopane's 10 billion barrel resource estimate and says more exploration potential lies in north of licence

"Galp Energies is set to fire-up a fast-track, four-well exploration and appraisal (E&A) drilling campaign at the end of 2024 on its huge Mopane oil discovery offshore Namibia, where a multiple-floater project is on the cards and first oil is predicted to flow this decade.

The Lisbon-based operator also believes that the story of Petroleum Exploration Licence (PEL) 83 has a long way to go because the northern part of this acreage — Mopane lies in the south — hosts other major hydrocarbon prospects.

Galp recently revealed that Mopane holds estimated in-place resources of at least 10 billion barrels of oil equivalent, with the E&A programme set to refine this big number — up or down — and offer better insight into recoverable reserves.

Up until now, Galp has been rather tight-lipped about its Namibian operations, but in the company’s first-quarter analyst call on Tuesday, chief executive Filipe Silva and head of upstream projects Adriano Bastos, offered intriguing insights into Mopane."