Mopane spews oil, gas condensate
Galp reports encouraging results
Galp Energia will embark on a high-resolution proprietary 3D seismic campaign in the Mopane field this month.
Galp Energia's second appraisal well on its significant Mopane discovery in the Orange Basin offshore Namibia has encountered light oil and gas condensate in its primary target.The announcement was made Friday after market close on the Lisbon Stock Exchange, where Galp’s shares are listed.
“The Mopane-1A well encountered light oil and gas condensate in high-quality reservoir-bearing sands, once again indicating good porosities, high permeabilities, and high pressures, as well as low oil viscosity characteristics with minimal CO2 and no H2S concentrations,” Galp said.
The Mopane-1A well was spud on 23 October this year.
Way forward
Galp announced in April that the Mopane field could contain up to 10 billion barrels of oil equivalent.
Galp is the operator of the project and has a 80% stake, while Namcor and Custos Energy have 10% each.
“Together with the Mopane-1X (Well #1) and Mopane-2X (Well #2) findings, this appraisal well confirms the extension and quality of AVO-1 [appraisal target]. Galp and its partners will continue to analyse and integrate all new acquired data, whilst progressing with the upcoming activities, which include E&A [exploration and appraisal] wells, and a high-resolution proprietary 3D seismic campaign set to start in December 2024,” the company said.
Timeline
According to the energy news site, energynews.pro, Mopane represents the largest confirmed discovery in the Orange Basin to date, a project that could transform Namibia’s economy.
The Namibian government, although currently a non-producer of hydrocarbons, sees these discoveries as an opportunity to diversify its economy and enter the global oil market, the site reported recently.
Oil production could begin by the end of the decade, with forecasts suggesting that TotalEnergies’ Venus project could start production as early as 2029, followed by Mopane in 2030, with a potential plateau of 211 000 barrels of oil equivalent per day by 2037, it stated.