Canadian oil and gas company Africa Oil Corp. has announced positive results from its appraisal and exploration campaign offshore Namibia.
According to the company’s Q2 2024 statement released on August 14, drilling and testing results from the Venus-1X, Venus-1A, Venus-2A and Mangetti-1X wells support the development of the Venus oilfield, located in Block 2913B in the Orange Basin.
Technical studies for the field will be carried out later this year and are expected to define the field’s development concept.
Africa Oil Corp. has also retained upside exposure to appraisal and exploration opportunities in Blocks 2912 and 2913B, which have the potential to significantly increase the basin’s resource base.
Meanwhile, Africa Oil Corp. completed processing of 3D seismic data during the first half of this year, which stands to improve the definition of prospects on Block 2193B, located to the south of the Venus discovery.
Once 3D seismic interpretation work on the block has finished, Africa Oil Corp. and its partners will consider drilling more high-impact wells on separate fan structures in the concession by late-2024 or early-2025.
The company’s Q2 2024 results also show that partner TotalEnergies intersected hydrocarbon bearing intervals and has begun planning for appraisal in the Mangetti and Venus fans in the Mangetti-1X exploration well, situated approximately 35 km northwest of the Venus-1X well.
The Venus-1X discovery is operated by a joint venture comprising TotalEnergies (40%), state-owned petroleum company QatarEnergy (30%), exploration firm Impact (20%) and the National Petroleum Corporation of Namibia (10%).
Africa Oil Corp. holds a 31.1% shareholding interest in Impact’s privately-owned oil and gas exploration company, Impact Oil and Gas, which holds an 18.89% and 20% participating interest in Blocks 2912 and 2913B, respectively.
