Custos energy spuds first oil well

Custos Energy has commenced drilling in the Mopane well offshore Namibia this week.

The Mopane 2X exploration well is located at the southern end of PEL 83 in the Orange Basin.

This well is the first of two set to be drilled by the consortium.

Knowledge Katti, the chief executive of Custos Energy, says the oil block is likely to be profitable.

“The significant prospectivity of PEL 83, together with its relatively shallow water depth, positions it to be one of the most significant and profitable opportunities in the Orange Basin.

“The ongoing progress on our licences emphasises the unmatched quality of our portfolio in the heart of the Orange Basin,” he says.

Galp holds an 80% interest in the project exploring PEL 83, while Namcor and Custos Investments both hold 10% shares individually.

Their operations will be carried by the Portuguese energy corporation, Galp Energia, in the exploration phase.

The exploration block is located north of the Graff-1, La Rona-1 and Jonker-1 that are being appraised and explored by Shell.

Early last month the consortium contracted Fugro to conduct environmental and geophysical fieldwork offshore Namibia before the commencement of drilling.

Rob Hawkins, Fugro’s commercial director for Africa, says the fieldwork’s environmental and chemical analysis is a critical part of minimising the harms of oil prospecting in the region.

“Our expertise in deepwater surveying and identifying protected habitats supports sustainable and efficient offshore energy developments, while minimising negative impacts on the marine environment.

“Fugro remains committed to the preservation of the environment, and this survey is an essential step towards achieving this goal,” he says.

Earlier this month, oil commissioner Maggy Shino stressed the importance of prioritising environmentally safe processes in the energy sector.

“This is done to ensure that our pursuit of increased energy does not compromise the health of our planet. Balancing energy needs with environmental stewardship is essential for a sustainable future,” she said.

Shino highlighted the significance of the Orange Basin as Namibia positions itself as a major energy player.

“We are excited to test the extension of the proven Upper Cretaceous plays into PEL 83. We believe PEL 83 will continue to demonstrate the world-class scale and quality of plays in Namibia’s Orange Basin,” she said.

The consortium exploring PEL 83 will continue exploration into early 2024 with the Hercules semi-submersible rig.