Custos Energy's Exploration Progress
Custos Energy (Pty) Ltd. is excited to share updates on its exploration efforts in the Orange Basin, known for its potential in oil and gas reserves. The recent discoveries reveal promising prospects that are capturing the attention of industry experts.
Mopane 3-X Well Success
The PEL 83 Joint Venture partners have successfully completed drilling at the Mopane-3X well. Situated 18 kilometers from the earlier Mopane-1X well, Mopane-3X targeted two intriguing prospects, AVO-10 and AVO-13, as well as deeper sand formations. This operation took place at an impressive water depth of around 1,200 meters.
Initial Findings and Future Potential
The initial results from Mopane-3X have been highly encouraging. Preliminary assessments indicate significant reserves of light oil and gas-condensate, particularly in high-quality sandstones within AVO-10. Moreover, the detection of light oil columns in AVO-13 and the deeper sand formations adds to the excitement surrounding this discovery.
Reservoir logs indicate favorable conditions with good porosities, high pressures, and impressive permeabilities, making it a promising site for further exploration. The first fluid samples suggest low oil viscosity, with minimal concentrations of carbon dioxide and hydrogen sulfide, which bodes well for production viability. Ongoing laboratory testing will provide more detailed insights into these samples.
Unlocking More Opportunities
With pressures being higher than initially expected, Mopane-3X opens up a wealth of opportunities for additional exploration and appraisal in the southeast region of the Mopane complex. All collected data will be integrated into the reservoir models to support the planning of future activities. A comprehensive 3D seismic acquisition campaign is expected to conclude in the first quarter of the upcoming year, followed by data processing that will inform subsequent decisions.
Leadership Insights
Chairman and CEO of Custos, Knowledge Katti, expressed his enthusiasm over these discoveries. He noted, "These additional discoveries in an entirely new section of Mopane further demonstrate the scale and quality of the complex. The clarity on the multi-phase potential of Mopane is underscored by this world-class asset. Our team, along with our Joint Venture partners, is dedicated to safely and efficiently harnessing these resources."
About Custos Energy
Custos Energy is an independent oil and gas exploration company based in Namibia. With a focus on developing the offshore industry, Custos has been striving to attract investments and expertise to enhance its operations. Since its foundation over a decade ago by Mr. Knowledge Katti, the company has consistently worked towards expanding its portfolio in collaboration with international partnerships, benefiting the local communities.
The company, alongside the Knowledge Foundation, is dedicated to fostering a sustainable future for stakeholders, particularly the youth of Namibia. Custos Energy holds the distinction of being the first local entity to achieve significant discoveries in the Namibian oil landscape, showcasing its commitment to responsible and impactful energy exploration.
Frequently Asked Questions
What notable discovery did Custos Energy make at Mopane-3X?
Custos Energy discovered significant columns of light oil and gas-condensate, indicating a promising reservoir for further exploration.
How does the Mopane-3X well's location impact its findings?
The well's strategic location, near previous drilling sites, allows for better understanding and exploration of stacked oil prospects.
What are the capabilities of the reservoir based on preliminary results?
Initial findings indicate good porosities, high pressure, and favorable permeability, which are vital for future production.
What future plans does Custos have following this discovery?
Custos plans to integrate the collected data into its reservoir models and continue its 3D seismic acquisition campaign.
What is Custos Energy's mission in Namibia?
Custos Energy aims to attract investment to the offshore oil industry while contributing positively to local communities through sustainable practices.
