Portuguese energy giant Galp Energia has confirmed a massive 700 million barrel increase in its potential oil and gas reserves in Namibia, representing a 25% year-on-year rise. The company’s updated reserves now stand at an impressive 2.79 billion barrels of oil equivalent following successful drilling in the offshore Orange Basin.
The discoveries were made within petroleum exploration licence 83 (PEL 83), where Galp holds an 80% operating interest, with the National Petroleum Corporation of Namibia (Namcor) and Custos Energy each holding 10%.
Galp’s appraisal campaign included multiple wells that revealed significant light oil and gas condensate columns in high-quality reservoir sands. The most recent well, Mopane-3X, confirmed light oil and condensates across all targeted zones and opened up the southeast region for future development.
Flow tests recorded impressive rates reaching 14,000 barrels of oil equivalent per day, with fluid samples showing favorable characteristics including low viscosity and minimal impurities.
The company has now shifted focus to analyzing data from the five wells drilled to date, which will inform development concepts for both the northwest and southeast regions of the Mopane complex.
Source: namibian.com.na
