Namibia’s offshore energy story continues to gather pace. Independent explorer Rhino Resources has completed a successful well test at its Volans-1X appraisal well in Petroleum Exploration License 85 (PEL 85), delivering strong results that confirm high-quality gas-condensate resources with excellent reservoir deliverability. The well achieved flow rates of approximately 33 million standard cubic feet per day of gas and 5,300 barrels per day of condensate, alongside a high condensate-to-gas ratio and low impurity levels.
The Volans-1X probe is Rhino Resources’ third well in PEL 85, building on earlier discoveries at Sagittarius-1 and Capricornus in 2025 and reinforcing the growing prospectivity of Namibia’s offshore acreage. CEO Travis Smithard said the results provide valuable calibration with the Capricornus discovery, offering a more complete understanding of reservoir distributions across the block.
Rhino Resources — alongside partners Azule Energy (42.5%), Namcor (10%) and Korres Investments (5%) — will now advance to development planning. The company is targeting a final investment decision (FID) by late 2026 or early 2027 to co-develop Volans and Capricornus, aligning with Namibia’s national goal of achieving first oil production by 2030. Additional appraisal wells, including at Capricornus in 2026, are planned.
Namibia’s reform push is adding further tailwinds. The government has established a dedicated Upstream Petroleum Unit under the Presidency to strengthen regulatory oversight and improve coordination. Deputy Minister of Industries, Mines and Energy Gaudentia Krohne said the country plans to create 500,000 new jobs on the back of its rapidly growing mining, oil and gas sector, and is finalising a local content framework to support workforce development and domestic participation. The TotalEnergies-led Venus field in PEL 56 is also expected to reach FID in 2026.
Source: Energy Capital & Power