General Thoughts, page-4921

How big is Mopane? Already have at least 10bn, now Galp have a four-well appraisal drilling programme later this year plus planning a 4000 sq km 3D...

Galp wants big seismic shoot over massive Mopane discovery to cover Shell and Rhino acreage

"Galp Energia is seeking environmental clearance from Namibia’s authorities for a major 3D seismic shoot over its huge Mopane oil and gas discovery in Petroleum Exploration Licence 83, that would also extend into acreage operated by Shell and Rhino Resources.

Galp said it has discovered in-place resources of 10 billion barrels of oil equivalent at Mopane, after recently competing two exploration wells, one of which was successfully flow tested. The company plans to fire up a four-well appraisal drilling programme later this year to better define the resources it has discovered and boost its understanding of the sub-surface.

"In parallel to (the) farm-out process, Galp is laying the groundwork to shoot about 4000 square kilometres of 3D seismic. The survey, according to an environmental filling, is due to start in the first quarter of 2025 and would extend partially into the neighbouring blocks to the south. Galp said it will engage with Shell and Rhino, operators of PEL 83 and PEL 85, respectively, to obtain permission to survey in their acreage. This would indicate that Galp believes the Mopane play likely extends to the south.

Rhino, with its new partner Azule Energy, already aims to spud its debut exploration well in PEL 85 this year, while Shell is clearly re-assessing the potential of PEL 83 – where it has made five discoveries in the south – in light of Mopane. The supermajor's only failed well in its licence was Cullinan-1, which drilled a carbonate prospect in the north, close to the boundary with Galp's block. Mopane is a totally different type of geological structure, so Shell will be taking a fresh look at its own 3D seismic to see if the Mopane play extends into its licence. To supplement its towed 3D survey, meanwhile, Galp also wants to undertake an ocean bottom mode 3D seismic operation in PEL 83 which will better define Mopane’s reservoirs."