[ACCI-CAVIE] Namibia’s burgeoning offshore oil industry is set to witness a new phase of exploration as drilling operations are scheduled to commence at the Mopane discovery site.

The arrival of Saipem’s Santorini drillship on October 23 marks a significant milestone for Galp Energia, the Portuguese oil company that made the initial discovery.

Located within the Orange Basin, the Mopane field is estimated to hold a substantial reserve of 10 billion barrels of oil and gas equivalent. This discovery has ignited significant interest from international oil companies, leading to a flurry of exploration activities in the region.

Following the success of Galp Energia’s Mopane discovery, several other oil and gas majors have announced their plans to explore the Namibian waters. TotalEnergies, Chevron, and Rhino Resources are among the companies that are gearing up to drill their own exploration wells in the coming months.

The exploration spree in Namibia is driven by the significant oil discoveries made in recent years. These discoveries have highlighted the country’s potential as a major oil producer and attracted substantial investment from global energy players.

Despite the challenges posed by the global energy transition, Namibia’s offshore oil exploration remains a priority for many companies. The country’s favorable geological conditions and the potential for large-scale discoveries continue to make it an attractive destination for investment.

As drilling operations commence at the Mopane site, Namibia’s offshore oil industry is poised to enter a new era of growth and development. The success of these exploration efforts could have a profound impact on the country’s economy and energy security.

The editorial team