Energy chamber hails Recon spud
Second well planned
In addition to the Naingopo well, ReconAfrica plans to drill a second well on the Damara Fold Belt, targeting nearly 278 million barrels of oil or 1.5 trillion cubic feet of natural gas.
The African Energy Chamber (AEC) has commended Reconnaissance Energy Africa (ReconAfrica) and Namcor on spudding the Naingopo exploration well in the Damara Fold Belt in the Kavango Basin earlier this month.ReconAfrica expects it to take 90 days to drill the well at a total depth of approximately 3 800 metres.
In a statement, the AEC describes the well as a “high impact, multi-well exploration venture, which is crucial to unlocking new discoveries and driving the development of Namibia’s onshore oil and gas resources”.
“The prospect of the well containing 163 million barrels of oil or 843 billion cubic feet of natural gas is a game-changer for Namibia – in addition to the series of world-class discoveries made by Shell, TotalEnergies and Galp in the offshore Orange Basin.
“Such a find would not only open up the underexplored Kavango Basin, but also attract a flurry of upstream investment and cement Namibia’s reputation as a major onshore exploration hotspot,” the AEC said.
Second well
“The Naingopo exploration well is the first well to test the Damara Fold Belt play. In the event of success, the well would unlock significant oil and natural gas potential from our additional three prospects and 20 leads that have been mapped and defined,” ReconAfrica senior vice president of exploration, Chris Sembritzky, commented on the project.
In addition to the Naingopo well, ReconAfrica plans to drill a second well on the Damara Fold Belt – Prospect P – targeting nearly 278 million barrels of oil or 1.5 trillion cubic feet of natural gas.
They expect to spud this second well in the last quarter of this year.
Farm-out
Additionally, ReconAfrica continues to progress its farm-out joint venture process, which is expected to conclude soon.
The company has prioritised negotiating terms to facilitate its multi-well exploration drilling programme across the Damara Fold Belt and Rift Basin plays in the coming 12-24 months. “This farm-out joint venture serves as a strategic move to accelerate the company’s exploration activities in Namibia, fostering collaboration to enhance operational efficiency and maximise resource potential,” the AEC said.
According to the Chamber, ReconAfrica’s activities in the onshore Kavango Basin serve as a complement to offshore exploration efforts and could unlock a new chapter in Namibia’s oil and gas history.
“By harnessing the full scope of its hydrocarbon resources, Namibia stands to initiate regional oil and gas development, stimulate sector-led growth and attract an influx of foreign direct investment – creating jobs, generating export revenues and establishing diversified, downstream industries in the process,” the AEC said.