Offshore Namibia partners set to resume drilling on Venus oil discovery
Nov. 15, 2022
Africa Oil expects the TotalEnergies-led partnership in Block 2913B offshore Namibia to start appraisal drilling early next year on the deepwater Venus light oil and associated gas discovery.
VANCOUVER, Canada — Africa Oil expects the TotalEnergies-led partnership in Block 2913B offshore Namibia to start appraisal drilling early next year on the deepwater Venus light oil and associated gas discovery.
Various wells and production flow tests should allow the partners to address uncertainties concerning reservoir distribution and dynamic behavior. Africa Oil has an indirect interest via its 30.8% shareholding in one of the partners, Impact.
The company also has a 20% operated interest in Block 3B/4B offshore South Africa, on trend with Venus and the Shell-operated Graff oil discovery, both in the Orange Basin.
Courtesy Africa Oil's "Second Quarter 2022 Results" presentation
Africa Oil identified its Orange Basin near-term opportunities in its second-quarter 2022 results report.
Last month the partners secured approval to extend the license by a further two years, with studies continuing on maturing drilling prospects.
Offshore Nigeria, Africa Oil has an interest (via local company Prime) in the Egina oil field. With production falling due to reservoir decline, certain wells will be shut in for planned interventions.
An infill drilling program has been pushed back to 2023, due to late arrival of the rig; the partners had planned to drill up to six development wells.
Prime and its upstream partners are working on conversion to Nigeria’s new Petroleum Industry Act terms and renewal of the OML 127 and OML 130 licenses. This could facilitate a final investment decision on the development of the Preowei oil discovery via a subsea tieback to the Egina FPSO to the south.
Courtesy Africa Oil's "Second Quarter 2022 Results" presentation
The map, taken from Africa Oil's second-quarter 2022 results report, illustrates the company's OML 130 investment outlook for the next 12 months.
