Custos Energy has made another major oil discovery off the Namibian coast, further solidifying the Orange Basin’s potential as a key site for hydrocarbon exploration.
In partnership with operator Galp Energia and the National Petroleum Corporation of Namibia (NAMCOR), the company announced the successful drilling of the Mopane-3X well, the fifth well completed under Petroleum Exploration Licence 83 (PEL 83).
“We are pleased to announce that the PEL 83 Joint Venture partners have successfully drilled, cored, and logged the Mopane-3X well (Well #5) on PEL 83, which spudded on 2 January 2025,” the statement read.
Located about 18 kilometres from the initial Mopane-1X well, Mopane-3X was drilled in approximately 1,200 metres of water. The operation targeted two geological formations, AVO-10 and AVO-13, along with deeper sandstone layers in the southeastern section of the Mopane complex.
Early assessments confirm that AVO-10 contains significant deposits of light oil and gas condensate within high-quality sandstone. Similar light oil reserves were also identified in AVO-13 and deeper rock formations, all within promising reservoir-quality sandstone.
According to Custos, preliminary log data suggests the well features excellent reservoir characteristics, including strong permeability, high pressures, and good porosity. Collected fluid samples indicate low oil viscosity with minimal traces of carbon dioxide and hydrogen sulphide. These samples have been sent for further laboratory analysis.
The unexpectedly high-pressure levels recorded at Mopane-3X, coupled with the promising early findings, have expanded opportunities for further exploration and assessment in this section of the Mopane complex.
Custos stated that all collected data would be used to refine their reservoir model, shaping future drilling and exploration plans. A proprietary 3D seismic survey is currently underway, with completion expected in the first quarter of 2025, followed by data analysis.
“These additional discoveries in an entirely new section of Mopane further demonstrate the scale and quality of the complex. An emerging clarity on the multi-phase potential of Mopane is underpinned by this world-class asset,” said Knowledge Katti, Chairman and Chief Executive Officer of Custos.
“We congratulate our Joint Venture partners on another safe and successful outing. We are uniquely positioned at the heart of this hydrocarbon province,” he concluded.
