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Iain Esau
Africa Correspondent London
Published 6 January 2025, 06:40
Galp Energia has spudded an important exploration well offshore Namibia in the same licence that holds its huge Mopane oil and gas discovery.
Having just completed a successful Mopane-2A appraisal-cum-exploration probe in Petroleum Exploration Licence (PEL) 23, Saipem’s Santorini drillship is now drilling ahead on the Mopane-3X exploration well.
Galp’s latest probe is targeting two stacked prospects which the operator calls AVO-10 and AVO-13 in the hydrocarbon-rich Orange basin block.
Results from Mopane-3X are expected in early February.According to data from marine intelligence provider VesselValue, this exploration probe is located about 21 kilometres southeast of the Mopane-1X discovery well and 20 kilometres north of the Sagittarius-1X probe that Rhino Resources is drilling in neighbouring PEL 85.
Galp's Mopane-2A well was designed to define the western extent of the big Mopane discovery which has been estimated to house 10 billion barrels of oil equivalent of in-place resources and is of interest to potential farm-in players.The Portuguese operator reported last week that the probe found “a hydrocarbon column of gas-condensate in the AVO-3 reservoir, with a thin net pay in the reservoir sweet spot”.
In addition, it hit a hydrocarbon column of light oil in a smaller reservoir designated AVO-4.The operator said both reservoirs exhibited good quality sands, with good porosities and permeabilities, high pressures and low fluid viscosities characteristics, with minimal carbon dioxide and no hydrogen sulphide.“
Also, in line with all previous Mopane wells, no water contacts were found,” added Galp.
Stephane Foucaud, analyst at Auctus Advisors, said the AVO-3 results “confirms the lateral extent of the reservoir,” adding that the thin net pay “is in line” with Galp’s geological model.
The presence of condensate in a high-quality reservoir with minimal CO2 and no H2S “is another positive,” he added in a note issued on Monday morning.
Foucaud said the discovery of light oil in AVO-4, “a smaller, high quality-reservoir,” was also a positive outcome. “While AVO-4 had been mapped at Mopane-2A, its presence was unconfirmed,” he wrote, adding that “the presence of liquids in this reservoir boosts the value of the block for potential farm-in partners.”
Overall, he said recent successes at the Mopane-2A and Mopane-1A appraisal wells reduce the uncertainty associated with developing the discovery, which “is important for Galp’s ongoing farm-out process.”A source with knowledge of Galp’s drilling campaign said Mopane-3A was likely testing the updip extent of the discovery and the company will incorporate this well data into its geological model.“What they will have now is a greater understanding to the size of AVO-3 and where they will focus production.”
Galp has previously talked about fast-tracking production from Mopane — probably using a floating production, storage and offloading vessel — with the help of a farminee on the same development wavelength.Galp has an 80% stake in Petroleum Exploration Licence 83, with Namcor and Custos Energy each holding 10% stakes.
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