Oil and gas exploration company ReconAfrica has spud the Naingopo exploration well on petroleum exploration license (PEL) 73, onshore Namibia.
The Naingopo well targets 163 million barrels of oil and 843 billion cubic feet of natural gas resources in the Damara Fold Belt. The well will be drilled to a planned total depth of approximately 3,800m and is expected to encounter multiple reservoir intervals.
“This is a significant play-opening well which may unlock a total potential resource of over 3.1 billion barrels of oil or 18 trillion cubic feet of natural gas based on the most recent prospective resource report…” stated Brian Reinsborough, President and CEO of ReconAfrica.
Drilled in partnership with Namibia’s national oil company Namcor, the well represents the first to be spud in a multi-well exploration drilling campaign on PEL 73. Once drilling is complete, ReconAfrica plans to drill a second well on the Damara Fold Belt – Prospect P. This second well will target an additional 278 million barrels of oil and 1.5 trillion cubic feet of natural gas resources. Drilling of Prospect P is expected to begin in Q4 this year.
