Galp Unveils Significant Light Oil Discovery Offshore Namibia
Portuguese oil and gas company, Galp, has declared a significant breakthrough with the discovery of light oil at the Mopane-1X well offshore Namibia. This development marks the sixth oil and gas discovery in Namibia since 2022, enhancing the country’s status as a frontier market in the energy sector.
The Mopane-1X exploration project, situated in Petroleum Exploration License (PEL) 83 in the Orange Basin, follows successful hydrocarbon discoveries by TotalEnergies in PEL 56 and Shell in PEL 39.
Galp, in collaboration with Namibia’s national oil company, NAMCOR, and Custos Energy, plans to assess the commercial viability of the newly discovered reserves through a drill stem test in the coming weeks. Recognizing the potential of Mopane-1X and Namibia’s Orange Basin, the partners are extending their drilling campaign with upcoming activities in the Mopane-2X well.
The African Energy Chamber (AEC), representing the voice of the African energy sector, commended Galp and its partners for the discovery, emphasizing its significance in positioning Namibia as a major energy player in Africa and on the global stage. The AEC anticipates that this discovery will contribute to bolstering local and regional energy security, generating job opportunities, and increasing export revenue.
The AEC sees Galp’s discovery as a crucial milestone for Namibia’s economic strength and gross domestic product growth, highlighting its potential to enhance energy market resilience. With approximately 45% of Namibia’s population currently lacking access to electricity, discoveries like Mopane-1X are expected to play a vital role in achieving the government’s goal of universal energy access by 2040, while ensuring the region has access to affordable energy.
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The Executive Chairman of the AEC, NJ Ayuk, praised Namibia’s collaborative efforts between the ministry and the national oil company in creating a stable environment for exploration. Ayuk emphasized the importance of Namibia’s example in encouraging investment, maintaining investor confidence, and showcasing the potential for exploration in many African states.
The AEC remains optimistic about Namibia’s hydrocarbon future, urging exploration companies and the government to collaborate in addressing legal, environmental, and investment requirements to expedite the development of these critical resources. The organization stands in support of Namibia’s efforts to leverage its oil and gas resources for energy security, industrialization, and socioeconomic development in both Namibia and the broader southern African region.
