Latest news with #Marula-1X
Cision Canada
28-04-2025
- Business
- Cision Canada
AFRICA OIL ANNOUNCES NAMIBIA OPERATIONAL UPDATE
VANCOUVER, BC, April 28, 2025 /CNW/ - (TSX: AOI) (Nasdaq-Stockholm: AOI) – Africa Oil Corp.'s ("Africa Oil" or the "Company") representatives on Impact Oil & Gas Limited's ("Impact") Board have received an update on the Marula-1X drilling operation on Block 2913B (PEL 56), offshore Namibia. View PDF version Highlights View PDF Safely drilled the Marula-1X well to a total depth of 6,460m (measured depth) on block 2913B, targeting Albian aged sandstones, within the Marula fan complex, approximately 47 Km south of the Venus-1X well, using the Deepsea Mira semi-submersible drilling rig. No hydrocarbons were encountered in the primary target in the Marula-1X well. No Drill Stem Test was performed. A comprehensive analysis of the well results is now underway. Impact has a 9.5% interest in Blocks 2912 and 2913B in Namibia's Orange Basin. Africa Oil through its 39.5% interest in Impact, has an effective interest of approximately 3.8% in these blocks. Block 2913B contains the Venus light oil discovery. Africa Oil President and CEO, Roger Tucker commented:"The farm down agreement between Impact and TotalEnergies that completed last year, provides full carry of Impact's exploration and development costs on Blocks 2912 and 2913B through to first commercial production from these blocks. This presents us with an attractive opportunity set to test different geological plays on these blocks at no upfront cost." About Africa Oil Africa Oil is a full-cycle Independent upstream oil and gas company with interests offshore Nigeria, Namibia, South Africa and Equatorial Guinea. Its main assets are producing and development assets in deepwater Nigeria operated by Majors. The Company holds a leading position in the Orange Basin including its effective interest in the Venus light oil project, offshore Namibia, and its direct interest in Block 3B/4B, offshore South Africa. The Company is listed on the Toronto Stock Exchange and on Nasdaq Stockholm under the symbol "AOI". Additional Information This information is information that Africa Oil is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 02:00 a.m. EDT on April 28, 2025. Forward Looking Information Certain statements and information contained herein constitute "forward-looking information" (within the meaning of applicable Canadian securities legislation), including exploration drilling on Blocks 2913B/2912, offshore Namibia, timing to the FID for the Venus project, and the development of the Venus discovery. Such statements and information (together, "forward looking statements") relate to future events or the Company's future performance, business prospects or opportunities. All statements other than statements of historical fact may be forward-looking statements. Statements concerning proven and probable reserves and resource estimates may also be deemed to constitute forward-looking statements and reflect conclusions that are based on certain assumptions that the reserves and resources can be economically exploited. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect, "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions) are not statements of historical fact and may be "forward-looking statements". Forward-looking statements involve known and unknown risks, ongoing uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including statements pertaining to share repurchase programs, cashflow from operation and capital investment estimates, performance of commodity hedges, the results, schedules and costs of exploratory drilling activity, uninsured risks, regulatory and fiscal changes, availability of materials and equipment, unanticipated environmental impacts on operations, duration of the drilling program, availability of third party service providers and defects in title. No assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. The Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws. These forward-looking statements involve risks and uncertainties relating to, among other things, changes in macro-economic conditions and their impact on operations, changes in oil prices, reservoir and production facility performance, hedging counterparty contractual performance, results of exploration and development activities, cost overruns, uninsured risks, regulatory and fiscal changes, defects in title, claims and legal proceedings, availability of materials and equipment, availability of skilled personnel, timeliness of government or other regulatory approvals, actual performance of facilities, joint venture partner underperformance, availability of financing on reasonable terms, availability of third party service providers, equipment and processes relative to specifications and expectations and unanticipated environmental, health and safety impacts on operations. Actual results may differ materially from those expressed or implied by such forward-looking statements. SOURCE Africa Oil Corp.
Zawya
06-03-2025
- Business
- Zawya
African Energy Chamber, Wood Mackenzie, Ministry of Mines & Energy to Host Webinar on Namibia's Exploration Boom
The African Energy Chamber (AEC) ( will host an upcoming webinar – Exploration Hotspot: Focus on Namibia – in collaboration with Namibia's Ministry of Mines and Energy and global energy research and consultancy firm Wood Mackenzie. The event will provide industry stakeholders with key insights into Namibia's exploration opportunities, subsurface potential and the wider trends shaping the country's energy sector. Scheduled for Thursday, 20 March the webinar will feature a distinguished lineup of speakers, including Maggy Shino, Petroleum Commissioner at Namibia's Ministry of Mines and Energy, and Dr. Ian Thom, Research Director for Sub-Saharan Africa Upstream at Wood Mackenzie. Moderated by Verner Ayukegba, Senior Vice President of the African Energy Chamber, the discussion will shed light on Namibia's deepwater discoveries, evolving exploration landscape and upcoming developments in one of Africa's most promising hydrocarbon frontiers. Namibia has emerged as Africa's leading exploration hotspot following the landmark Graff and Venus deepwater discoveries by Shell and TotalEnergies in the Orange Basin. Since these groundbreaking finds three years ago, exploration has surged, with over 20 additional wells drilled and nine significant discoveries made by leading operators, including Shell, TotalEnergies, Galp, Chevron and Rhino Resources. Looking ahead, exploration activity is expected to remain robust throughout 2025, with major wells currently being drilled, including Marula-1X by TotalEnergies and Capricornus-1X by Rhino Resources. Additional prospects have been identified at Kharas by BW Energy, Olympe by TotalEnergies and Saturn by Pancontinental, signaling continued investment and confidence in Namibia's upstream potential. TotalEnergies and Galp are now shifting their focus toward development, with TotalEnergies planning a 150,000-barrel-per-day FPSO facility on the Venus structure and Galp evaluating a hub for its giant Mopane discovery. During the webinar, participants will gain exclusive insights into the significance of Namibia's deepwater oil discoveries for global energy markets, the key players driving exploration and their strategies for value creation and the long-term outlook for exploration and development in the Orange, Lüderit, Walvis and Namibe basins. The discussion will also cover the risks and challenges facing operators as they transition from exploration to production, offering a comprehensive overview of the opportunities and obstacles shaping Namibia's energy future. The webinar will take place at 10:00 - 11:00 (Central Standard Time/ GMT-5); 17:00 – 18:00 (West Africa Standard Time/ GMT +1); 16:00 – 17:00 (Western European Time/ GMT+1). The agenda includes a welcome address by Ayukegba, followed by a presentation from Dr. Thom on Namibia's upstream landscape. Commissioner Shino will then provide insights from the Namibian government's perspective before concluding with a Q&A session. As Namibia continues to capture the attention of the global oil and gas industry, this webinar presents a unique opportunity to engage with experts, gain firsthand insights into emerging opportunities and assess the future of one of Africa's most dynamic exploration frontiers. Register now to secure your spot and stay informed on the latest developments shaping Namibia's energy sector. Click here ( to register.
Zawya
05-03-2025
- Business
- Zawya
TotalEnergies' Mike Sangster to Headline Invest in African Energy Forum in Paris
Mike Sangster, Senior Vice President for Africa at TotalEnergies, will deliver a keynote address at the Invest in African Energy (IAE) Forum in Paris this May. Sangster will also participate in an exclusive fireside chat, offering critical insights into the company's vision for Africa's energy future, its ongoing projects and the evolving role of oil and gas in the continent's energy mix. TotalEnergies continues to drive oil and gas development across Africa, with a strong focus on both emerging and mature markets. In Namibia, the company is advancing its Venus-1 discovery, targeting first oil by the decade's end, with an FID expected in early 2026 for a development producing 150,000 barrels per day. TotalEnergies is also exploring additional prospects in the Orange Basin, having recently drilled the Marula-1X and Tabmoti-1X wells. In the Republic of Congo, the company is investing $600 million to expand deepwater production at the Moho Nord field, while in Libya, it plans to complete an onshore exploration project and lead new drilling campaigns in the Waha and Sharara fields in 2025. IAE 2025 ( is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 13-14, 2025 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit To sponsor or participate as a delegate, please contact sales@ Meanwhile, TotalEnergies is expanding its gas processing and midstream infrastructure across Africa, strengthening its role in the continent's evolving energy landscape. In Mozambique, the company is progressing with the Mozambique LNG project, a $20 billion development expected to secure renewed financial backing from export credit agencies. I Uganda, TotalEnergies is gearing up for first oil from its Tilenga field in 2025, with crude transported via the East African Crude Oil Pipeline (EACOP). Once operational, EACOP will be the longest heated crude oil pipeline globally, significantly enhancing East Africa's ability to monetize its hydrocarbon resources and attract further investment into the region's energy sector. TotalEnergies is also expanding its renewable energy footprint in Africa through strategic investments in solar, wind, hydropower and green hydrogen. The company is advancing its 500 MW Sadada solar project in Libya and acquired Scatec's hydropower portfolio on the continent in July 2024, including the 250 MW Bujagali Hydropower Plant in Uganda and stakes in projects in Malawi, Rwanda and the DRC. In South Africa, TotalEnergies is constructing a 216 MW solar plant with battery storage, along with a 140 MW wind farm and a 120 MW solar facility, set to supply green electricity to Sasol's industrial operations. In Morocco, the company is developing the Chbika project, a 1 GW wind and solar farm designed to produce 200,000 metric tons of green ammonia annually for export to Europe. These initiatives align with TotalEnergies' strategy to integrate renewables into its portfolio while supporting Africa's energy transition. Sangster's participation at IAE 2025 comes at a pivotal time for Africa's energy sector, as investors and policymakers navigate a shifting global energy landscape. His keynote address and fireside chat will provide valuable perspectives on the role of private investment in African energy, strategies for unlocking new upstream opportunities and how TotalEnergies is adapting to the continent's long-term energy needs. Distributed by APO Group on behalf of Energy Capital&Power.
Yahoo
07-02-2025
- Business
- Yahoo
TotalEnergies begins work on next Namibia project
TotalEnergies has moved to the next well in its campaign in Namibia after discovering more oil resources in the Orange Basin. Namibia has become an exploration hotspot over the past few years following significant discoveries including TotalEnergies' Venus-1 well and Shell's Graff-1, La Rona-1 and Jonker-1. Since then, many oil and gas companies have started to engage in drilling activity. TotalEnergies has completed the drilling at Tamboti-1X and is beginning spudding (the very first drilling operation for a newly discovered reservoir) at the Marula-1X exploration in Block 2913B (PEL 56), offshore Namibia. TotalEnergies is the operator of Block 2913B in PEL 56, which covers approximately 8,215km² offshore Namibia, and owns 50.5% of the operation. The joint venture partners are QatarEnergy (30%), Africa Oil's Impact Oil and Gas (9.5%) and Namibia's NAMCOR (10%). Impact Oil & Gas announced the completion of the Tamboti-1X exploration well and the spudding of Marula-1X. Africa Oil president and CEO Roger Tucker said: 'The Venus project is progressing well, and we are very encouraged by the operator's public statements on the commerciality and the quality of this field.' He added that there is "also an exciting exploration programme with Marula-1X operations under way and the plan to start drilling [the] Olympe-1X well by the end of 2025." The drilling operations at Marula-1X are being carried out by a semi-submersible rig owned by Northern Ocean (NOL) and managed by Odfjell Drilling. In other news, TotalEnergies recently dismissed tariff fears by unveiling plans to expand the company's investment in the US liquefied natural gas market over the next decade. "TotalEnergies begins work on next Namibia project " was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
06-02-2025
- Business
- Yahoo
NAMIBIA OPERATIONAL UPDATE
VANCOUVER, BC, Feb. 6, 2025 /CNW/ - (TSX: AOI) (Nasdaq-Stockholm: AOI) – Africa Oil Corp. ("Africa Oil", or the "Company") notes the announcement by its investee company, Impact Oil & Gas Limited ("Impact"), regarding the completion of drilling and testing operations at the Tamboti-1X exploration well and spudding of the Marula-1X exploration in Block 2913B (PEL 56), offshore Namibia. View PDF version Impact has advised that the Tamboti-1X well encountered black oil within 85m of net reservoir of lower quality Upper Cretaceous sandstones, belonging to the Mangetti fan system. As reported by Impact, the drill stem test ("DST") program was concluded at the Tamboti-1X location, and results from the acquired log, core and DST data are currently under analysis. On February 3, 2025, the Deepsea Mira spud the Marula-1X exploration well within the southern part of Block 2913B. Block 2913B Joint Venture has indicated that the well will target Albian-aged sandstones, within the Marula fan complex and has the potential to unlock further exploration targets across the south, which is an area lying at the heart of the prolific Kudu source-rock kitchen. The Joint Venture also expects to drill the Olympe prospect, targeting Albian sands within a structural closure, on Block 2912 by the end of 2025. Block 2913B Joint Venture is continuing to progress the proposed development of the Venus Field, with development studies ongoing. Since the 2022 Venus-1X discovery well, three further wells have successfully penetrated the Venus Field, and four drill stem tests have been successfully carried out. The Venus Field is expected to be the first development area in Block 2913B, producing 150k barrels of oil per day (~45o API oil), with final investment decision expected by the end of first half 2026. Impact has a 9.5% interest in each of Blocks 2912 and 2913B. Africa Oil currently has a shareholding of approximately 39.5% in Impact, which represents an effective economic interest of approximately 3.8% in the two blocks. Africa Oil President and CEO, Roger Tucker commented: "The Venus project is progressing well and we are very encouraged by the operator's public statements on the commerciality and the quality of this field. There is also an exciting exploration program with Marula-1X operations under way and the plan to start drilling Olympe-1X well by the end of 2025. Through our recent strategic initiatives, we have retained the upside to these assets at no upfront cost, with all of Impact's share of development and exploration expenditures on the two blocks being covered by TotalEnergies, until first commercial production from Venus". About Africa Oil Africa Oil Corp. is a Canadian oil and gas company with producing and development assets in deepwater Nigeria, an interest in the Venus light oil and associated gas discovery, offshore Namibia, and an exploration/appraisal portfolio in west and south of Africa. The Company is listed on the Toronto Stock Exchange and on Nasdaq Stockholm under the symbol "AOI". Forward Looking Information Certain statements and information contained herein constitute "forward-looking information" (within the meaning of applicable Canadian securities legislation), including exploration drilling on Blocks 2913B/2912, offshore Namibia, timing to the FID for the Venus project, the development of the Venus discovery, and the outcome of the ongoing analysis of the DST results from Tamboti-1X. Such statements and information (together, "forward looking statements") relate to future events or the Company's future performance, business prospects or opportunities. All statements other than statements of historical fact may be forward-looking statements. Statements concerning proven and probable reserves and resource estimates may also be deemed to constitute forward-looking statements and reflect conclusions that are based on certain assumptions that the reserves and resources can be economically exploited. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect, "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions) are not statements of historical fact and may be "forward-looking statements". Forward-looking statements involve known and unknown risks, ongoing uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including statements pertaining to share repurchase programs, cashflow from operation and capital investment estimates, performance of commodity hedges, the results, schedules and costs of exploratory drilling activity, uninsured risks, regulatory and fiscal changes, availability of materials and equipment, unanticipated environmental impacts on operations, duration of the drilling program, availability of third party service providers and defects in title. No assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. The Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws. These forward-looking statements involve risks and uncertainties relating to, among other things, changes in macro-economic conditions and their impact on operations, changes in oil prices, reservoir and production facility performance, hedging counterparty contractual performance, results of exploration and development activities, cost overruns, uninsured risks, regulatory and fiscal changes, defects in title, claims and legal proceedings, availability of materials and equipment, availability of skilled personnel, timeliness of government or other regulatory approvals, actual performance of facilities, joint venture partner underperformance, availability of financing on reasonable terms, availability of third party service providers, equipment and processes relative to specifications and expectations and unanticipated environmental, health and safety impacts on operations. Actual results may differ materially from those expressed or implied by such forward-looking statements. 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