Shell is scheduled to return to Namibian waters later this year for more drilling around its major oil and gas discovery that it confirmed in January this year. The follow up drilling is intended to further probe and appraise the discovery in order to confirm potential commercial development.
Researchers at energy and research consultancy, Wood Mackenzie, believe the find in the Orange Basin, where Shell is currently drilling a second well, could hold more than 700 million barrels of oil. Shell operates the Graff oil find with a 45% interest. Partners in the discovery are QatarEnergy (45%) and Namcor (10%).
According to oil industry experts, the Orange Basin, which is home to two of the largest crude oil discoveries in Africa in recent decades, is currently the focus of intense competition that could lead to record-breaking deals. The Shell and TotalEnergies discoveries in the Orange Basin established a working petroleum system and the presence of light oil.
Less than a month after Shell’s Graff find was announced, TotalEnergies confirmed a similar discovery of light oil with associated gas on its Venus prospect, in Block 2913B, also in the Orange Basin. No resource estimates on this discovery have thus far been officially released.
This exploration area is operated by a joint venture group that includes TotalEnergies (40%), QatarEnergy (30%), Impact Oil and Gas (20%), and Namcor (10%). In a recent statement, Namcor noted the Venus-1X discovery is located approximately 290 kilometres off the coast of Namibia, in the deep-water offshore exploration block. This well was drilled to a total depth of 6 296 metres by the Maersk Voyager drillship and encountered a highquality, light oil-bearing sandstone reservoir of Lower Cretaceous age.
Oil industry gurus believe the promise of the Graff and Venus wells will likely trigger an increase in drilling activity in the Orange Basin as well as across the maritime boundary in South Africa where TotalEnergies and QatarEnergy have also secured exploration approval. According to Olayinka Arowolo, CEO of Nabirm, a Windhoek-based oil and gas explorer: “Namibia is gearing up to be the world's number one precinct for the discovery and supply of hydrocarbons. The Orange Basin is the focus for now but we are gearing up to make major investments in the Walvis ridge which we believe could hold up to eight billion barrels.”
Arowolo continued that like the Shell and Total super majors, Nabirm, in conjunction with other operators, will do the work required such as 2D, 3D, seismic, Controlled Source Electromagnetic (CSEM) as well as air gravity data and ultimately deliver the figures that will prove the resource. “The Walvis Basin is next," said Arowolo.
- ebrandt@nepc.com.na