Rhino Resources has contracted Italy’s Saipem and its Saipem 12000 drillship to drill the Capricornus-1A appraisal well on Block 2914 in Namibia’s Orange Basin, in a campaign designed to determine how far the Capricornus light oil accumulation extends and whether it can underpin a commercial development.
The well will evaluate the lateral extent of the accumulation and appraise reservoir quality and fluid characteristics within Lower Cretaceous targets — building directly on the results of the Capricornus-1X discovery well. Rhino operates PEL 85 with a 42.5 percent interest, alongside co-venturers Azule Energy (42.5 percent), the National Petroleum Corporation of Namibia NAMCOR (10 percent), and Korres Investments (5 percent).
Travis Smithard, Chief Executive Officer of Rhino, said the Capricornus-1A well is a critical data point in defining the development potential of the reservoir system and its potential integration with other discoveries across PEL 85. He added that wireline and drill stem data gathered from the well will be analysed against flow assurance, geomechanical, and fluid characteristics, and will inform the partnership’s approach to the further appraisal and development of the broader acreage.
The appraisal campaign follows a separate gas condensate discovery at the Volans-1X exploration well on the same block, drilled with a semi-submersible rig managed by Odfjell Drilling — further evidence of the geological richness of PEL 85 and its potential to deliver multiple distinct hydrocarbon resources across the licence area.
Source: namibiaoilandgas.com