Further to previous updates provided during Q1 2024, Galp (the license operator with an 80% interest) together with its partners NAMCOR and Custos, has\u00a0successfully completed\u202fthe first phase of the\u202fMopane exploration campaign with the conclusion of the Mopane-1X Well Testing operations.<\/p>\n\n\n\n
The\u00a0Mopane-1X well discovered, in January, significant oil columns containing light oil in high-quality reservoir sands at two different levels: AVO-1 and AVO-2.\u202fThe rig then moved to the\u00a0Mopane-2X location, where in March significant light oil columns were discovered in high-quality reservoir sands across exploration and appraisal targets; AVO-3, AVO-1 and a deeper target. In particular, the Mopane-2X well found AVO-1 to be in the same pressure regime as in the Mopane-1X discovery well, around 8km to the east,\u00a0confirming its lateral extension<\/strong>.<\/p>\n\n\n\n The reservoirs\u2019 log measures contain\u00a0good porosities, high pressures and high permeabilities in large hydrocarbon columns. <\/strong>Fluid samples present very low oil viscosity and contain minimum CO2 and no H2S concentrations. The\u00a0flows achieved during the well test have reached the maximum allowed limits of approximately 14 thousand barrels oil equivalent per day<\/u>, positioning Mopane potentially as an important commercial discovery.\u202fIn 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<\/u>.<\/p>\n\n\n\n All acquired data from the current Mopane drilling campaign will be analyzed and integrated into an updated reservoir model. The model will serve as the basis to refine Galp\u00b4s near-term drilling plan to further explore, appraise and develop the wider Mopane complex.<\/p>\n\n\n\n PEL 83 is located immediately north of PEL 39 home to Shell\u2019s basin opening discoveries at Graff-1, La Rona-1 and Jonker-1. Additionally, it is located north and east of PEL 56 where TotalEnergies announced its giant oil discovery at Venus-1.<\/p>\n\n\n\n \u201cThe successful culmination of the exploration campaign at Mopane, including a well test reaching the maximum allowable limit, further demonstrates the scope and potential of PEL 83 with Mopane alone containing potential in excess of 10 billion barrels of original oil in place making it one of the largest discoveries globally.\u201d said Knowledge Katti, Chairman and Chief Executive Officer of Custos.<\/p>\n\n\n\n \u201cThe results of the initial exploration campaign on PEL 83 are a true milestone for all stakeholders including the people of Namibia, our local partners and Sintana. We are thrilled to be a part of this world class discovery and want to express our sincere gratitude and appreciation for the efforts and tenacity of the Joint Venture partners, including Custos.\u201d said Robert Bose, CEO and Board Member of Sintana. \u201cThe timeliness of our entry and the unmatched nature of our portfolio continue to be demonstrated as the Orange Basin emerges as the world\u2019s next great hydrocarbon province.\u201d he added.<\/p>\n","protected":false},"excerpt":{"rendered":"