Custos says the Mopane complex in the Orange Basin had an estimated 10 billion barrels of oil equivalent or higher before drilling additional exploration and appraisal wells.
The Mopane complex is under PEL 83 blocks on blocks 2813A and 2814B.
The Portuguese oil and exploration company, Galp Energia’s subsidiary, has 80% interest, while Custos and Namcor hold 10% each.
In January 2024, the joint venture discovered significant oil columns containing light oil in high-quality reservoir sands at the AVO-1 and Avo-2 in the Mopane-1X well.
In March 2024, the joint venture drilled the Mopane-2X, where significant light oil columns were discovered in high-quality reservoir sands across exploration and appraisal targets AVO-3, AVO-1 and a deeper target.
Custos says the Mopane-2X well, in particular, found AVO-1 in the same pressure regime as the Mopane-1X discovery, around 8km to the east, confirming its lateral extension.
“The reservoir log measures contain good porosities, high pressures, and high permeabilities in large hydrocarbon columns,” the company says, adding that fluid samples present very low oil viscosity and contain minimum CO2 and no H2S concentrations.
Custos further says the flows achieved during the well test have reached the maximum allowed limits of approximately 14 thousand barrels of oil equivalent per day, positioning Mopane as potentially an important commercial discovery.
Custos chairperson and CEO Knowledge Katti says the 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.
According to Katti, with the current discoveries alone containing potential over 10 billion barrels of original oil in place, Mopane is one of the largest discoveries globally.
“The success of this exploration campaign clearly demonstrates the opportunity this industry can bring to the people of Namibia, including young Namibians,” Katti says.
He adds that Custos looks forward to working with local community trusts to ensure that this progress improves livelihoods and opportunities while reducing poverty equitably and sustainably.
