{"id":14311,"date":"2024-05-06T12:26:37","date_gmt":"2024-05-06T12:26:37","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=14311"},"modified":"2024-05-06T12:26:37","modified_gmt":"2024-05-06T12:26:37","slug":"namibia-azule-energy-and-rhino-resources-announce-strategic-farm-in-agreement-for-block-2914a-pel85","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-azule-energy-and-rhino-resources-announce-strategic-farm-in-agreement-for-block-2914a-pel85\/","title":{"rendered":"NAMIBIA: Azule Energy and Rhino Resources Announce Strategic Farm-In Agreement for Block 2914A (PEL85)"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Azule Energy and Rhino Resources Namibia announce the execution of a farm-in agreement. The agreement will grant Azule a 42.5% interest in Block 2914A located in the offshore Namibian Orange basin.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The current contractor group consists of\u00a0Rhino\u00a0{Operator, 85%),\u00a0Namcor<em><strong>\u00a0<\/strong><\/em>(10%) and local company\u00a0Korres Investments {Pty) Ltd\u00a0{5%).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The plan is to drill two high-impact exploration wells, as part of a work programme in the area, with the first well expected to spud by the end of 2024. The Agreement also provides Azule Energy with an option to become the operator of PEL85.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The transaction is subject to customary third-party approvals from the Namibian authorities and joint venture parties.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Azule Energy&#8217;s CEO, Adriano Mangini,\u00a0expressed his enthusiasm about this strategic move:\u00a0<em>&#8216;Our entry into offshore Namibia represents a significant milestone for Azule. We are excited to enter this highly prospective hydrocarbon region and to participate in the unlocking of Namibia&#8217;s\u00a0<strong>oil\u00a0<\/strong>and gas potential. This venture aligns with Azule Energy&#8217;s vision\u00a0<strong>of\u00a0<\/strong>becoming a regional leader in energy exploration and underscores its dedication to safe and reliable resource development.&#8217;<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Rhino Resources\u00b7 CEO, Travis Smithard\u00a0said:<\/strong><em>\u00a0&#8216;The signing of this agreement sets the foundations for a new strategic partnership between Rhino and Azule. This partnership is based upon a mutual drive to accelerate exploration on the block with the goal of developing the hydrocarbon potential in the shortest timeframes possible. We believe that Azule&#8217;s unique capabilities of rapid deployment of technical and financial resources will complement our objectives of delivering value creation, for the benefit of all Namibian stakeholders.&#8217;<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.azule-energy.com\/wp-content\/uploads\/2024\/05\/Azule-Energy-Announces-Strategic-Farmin-to-Rhino-Resources_final.pdf\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Azule Energy and Rhino Resources Namibia announce the execution of a farm-in agreement. The agreement will grant Azule a 42.5% interest in Block 2914A located in the offshore Namibian Orange &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/namibia-azule-energy-and-rhino-resources-announce-strategic-farm-in-agreement-for-block-2914a-pel85\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":14312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,7445,11],"tags":[10317,11544,7913,1675,11545,3851],"class_list":["post-14311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-southern-africa","category-top-news","tag-azule-energy","tag-block-2914a","tag-namcor","tag-namibia","tag-pel85","tag-rhino-resources","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/05\/Namibia-PEL85.jpg?fit=495%2C290&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-3IP","jetpack-related-posts":[{"id":15298,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-rhino-announces-volans-1x-probe-as-high-liquid-yield-gas-condensate-discovery-in-excellent-quality-reservoir\/","url_meta":{"origin":14311,"position":0},"title":"NAMIBIA: bp confirms discovery at the Volans-1X Well","author":"","date":"October 20, 2025","format":false,"excerpt":"bp has confirmd the preliminary results of the Volans-1X exploration well in Namibia\u2019s Orange Basin, as reported by operator Rhino Resources.\u00a0 The\u00a0Volans-1X exploration well, spudded on\u00a031 July 2025\u00a0using the\u00a0Northern Ocean\u2019s\u00a0semi-submersible\u00a0Deepsea Mira, reached a total depth of\u00a04,497.5m TVDSS\u00a0on\u00a030 August 2025, successfully penetrating the\u00a0Upper Cretaceous\u00a0target. The well found\u00a026m of net pay\u00a0in rich-gas\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/12\/Deepsea-Mira.jpg?fit=540%2C582&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/12\/Deepsea-Mira.jpg?fit=540%2C582&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/12\/Deepsea-Mira.jpg?fit=540%2C582&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":14921,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-rhino-resources-completes-the-sagittarius-1x-well-in-the-orange-basin-pel85\/","url_meta":{"origin":14311,"position":1},"title":"NAMIBIA: Rhino Resources Completes the Sagittarius-1x well in the Orange Basin, PEL85","author":"","date":"March 1, 2025","format":false,"excerpt":"Rhino Resources has announced that it has completed the Sagittarius-1x well in the Orange Basin, PEL85 offshore Namibia. Commenting on the initial well results, Rhino\u2019s CEO Travis Smithard said:\u201cWe are pleased to have safely and successfully completed the drilling of the first exploration well in our programme on PEL 85.\u00a0The\u00a0hydrocarbon-bearing\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/06\/Namibia-PEL85.jpg?fit=495%2C290&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":14952,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-rhino-resources-strikes-oil-at-the-offshore-capricornus-1-x-well\/","url_meta":{"origin":14311,"position":2},"title":"NAMIBIA: Rhino Resources Strikes Oil at the Offshore Capricornus 1-X well","author":"","date":"April 25, 2025","format":false,"excerpt":"Rhino Resources on behalf of PEL85 JV reports it has been 'successful' in its operated drilling campaign on Block 2914, offshore Orange Basin, Namibia where it was drilling its second well the Capricornus 1-X .Petroleum Exploration License 85, where the well was drilled, is operated by Rhino Resources with a\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/04\/Namibia-PEL-85.jpg?fit=904%2C600&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/04\/Namibia-PEL-85.jpg?fit=904%2C600&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/04\/Namibia-PEL-85.jpg?fit=904%2C600&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/04\/Namibia-PEL-85.jpg?fit=904%2C600&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":15729,"url":"https:\/\/www.oilnewskenya.com\/index.php\/bp-acquires-interest-in-three-namibian-exploration-blocks\/","url_meta":{"origin":14311,"position":3},"title":"bp acquires interest in three Namibian exploration blocks","author":"Samuel Kamau Mbote","date":"April 22, 2026","format":false,"excerpt":"bp has agreed to acquire a 60% interest in three offshore exploration blocks in Namibia from Eco Atlantic Oil & Gas as part of bp\u2019s strategy to grow its upstream portfolio. Subject to Namibian government approvals, bp will be the operator of three blocks \u2013 PEL97, PEL99 and PEL100 \u2013\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/04\/namibia-eco-pr-2-apr-2026-1.jpg.img_.750.medium.webp?fit=750%2C579&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/04\/namibia-eco-pr-2-apr-2026-1.jpg.img_.750.medium.webp?fit=750%2C579&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/04\/namibia-eco-pr-2-apr-2026-1.jpg.img_.750.medium.webp?fit=750%2C579&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/04\/namibia-eco-pr-2-apr-2026-1.jpg.img_.750.medium.webp?fit=750%2C579&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":15696,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-orange-basin-industry-update\/","url_meta":{"origin":14311,"position":4},"title":"NAMIBIA: Orange Basin Industry Update","author":"Samuel Kamau Mbote","date":"April 9, 2026","format":false,"excerpt":"Courtesy Oregen Energyy The Orange Basin continues to evolve rapidly from frontier exploration into an active appraisal, development planning, and renewed exploration drilling environment. Recent public disclosures from operators and partners reinforce two important themes: (i) increasing drilling activity and data density across the basin, and (ii) strategic consolidation by\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/05\/image-3.png?fit=447%2C613&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":14341,"url":"https:\/\/www.oilnewskenya.com\/index.php\/now-is-the-time-for-namibia-to-join-extractive-industries-transparency-initiative-eiti\/","url_meta":{"origin":14311,"position":5},"title":"Now is the Time for Namibia to Join Extractive Industries Transparency Initiative (EITI)","author":"","date":"June 5, 2024","format":false,"excerpt":"By NJ Ayuk, Executive Chairman, African Energy Chamber Namibia has four onshore and four offshore basins that are estimated to contain 11 billion barrels of oil (boe) and 2.2 trillion cubic feet (tcf) of natural gas.\u00a0Several recent oil discoveries have made the country an attractive target for oil companies.\u00a0 The\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/06\/Namibia-PEL85.jpg?fit=495%2C290&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/14311","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=14311"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/14311\/revisions"}],"predecessor-version":[{"id":14313,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/14311\/revisions\/14313"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/14312"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=14311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=14311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=14311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}