Namcor to Drill Three New Oil and Gas Wells by Early 2025: Expanding Namibia’s Energy Frontiers

Victoria Sibeya, the Executive of Exploration Upstream, unveiled this exciting development during the African Energy Week: Invest in African Energies 2024 event. Sibeya emphasized that these upcoming drilling projects are not just about expanding Namibia’s hydrocarbon portfolio but also about getting a deeper understanding of the recent discoveries. "These wells will help us assess the continuity of hydrocarbon flow from our recent finds, as well as explore the potential for new ones," she explained. Partnering with global industry heavyweights, Namcor will collaborate with Galp on the PEL 83 block, Chevron in PEL 90, and Rhino Resources in other targeted areas. This strategic cooperation aims to leverage international expertise and further unlock Namibia’s untapped energy potential.

Seismic Surveys and Strategic Partnerships

Sibeya went on to outline Namcor’s proactive efforts to boost the nation’s oil and gas sector. The company is ramping up its investments in seismic data acquisition and appraisals across key regions, including the Orange, Walvis, Namibe, and Luderitz Basins.

"We're conducting an in-depth geological study in the Walvis Basin and are currently finalizing a significant transaction with Chevron to bring them into this promising area," Sibeya disclosed.

Looking Ahead: New Ventures with ExxonMobil

Namcor isn't stopping there. Sibeya revealed plans to collaborate with ExxonMobil to drill additional wells in Block 1711 of the Namibe Basin. The goal? To further evaluate the reservoir quality of a promising gas discovery previously made in the area. This initiative is expected to significantly “de-risk” future projects by providing more precise data on the site's potential. In addition to these projects, Namcor is setting its sights on the lesser-explored Luderitz Basin, a region that, according to Sibeya, holds substantial hydrocarbon prospects. "Our seismic data is showing strong potential in this Basin, with several hydrocarbon flows already identified. We are excited to continue exploring this frontier," she emphasized.

As Namcor pushes forward with these initiatives, Namibia’s energy landscape is poised for a transformative period, setting the stage for greater investment and industry growth in the years to come.