Latest news with #OrangeBasin
Yahoo
18-05-2025
- Business
- Yahoo
Rhino Resources, Halliburton complete two exploration wells in Block 2914 in Namibia
Rhino Resources and Halliburton have delivered the first two exploration wells in Block 2914 within Petroleum Exploration License 85 offshore Namibia. This marks a significant milestone as these wells are the first to be completed entirely using in-country infrastructure, leveraging Halliburton's operational bases in Walvis Bay, Swakopmund and Lüderitz. The completion of these wells is evidence of the growing appeal of Namibia's offshore basins to international investors. Halliburton sub-Saharan Africa vice-president Antoine Berel said: 'This success is an example of what is possible when world-class technology, local collaboration and a shared long-term vision come together. 'Our newly established infrastructure across Namibia enabled this discovery, which will help unlock Namibia's energy potential and build the capacity to support the country's future as an energy hub in Africa.' In February, Rhino Resources confirmed the presence of a hydrocarbon-bearing reservoir with the completion of the Sagittarius 1-X well at the PEL85 licence in the Orange Basin. The Sagittarius 1-X well was spudded on 18 December 2024 and reached its total depth on 6 February 2025, utilising Noble's Noble Venturer drill-ship. Rhino Resources, with a 42.5% interest, operates the PEL85 licence, alongside Azule Energy Exploration Angola, also holding a 42.5% stake. NAMCOR Exploration and Production and Korres Investments have a 10% and 5% interest, respectively. Additionally, Halliburton's collaboration with Sekal in February has led to the deployment of what is claimed to be the world's first automated on-bottom drilling system for Equinor in the North Sea. This innovative system combines Halliburton's LOGIX automation and remote operations with Sekal's Drilltronics solution and the rig automation control system, aiming to optimise drilling parameters and enhance well placement accuracy in real time. "Rhino Resources, Halliburton complete two exploration wells in Block 2914 in Namibia" 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. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
14-05-2025
- Business
- Zawya
Africa's Oil Frontiers Urged to Accelerate Development at Invest in African Energy (IAE) 2025
African oil and gas markets must act swiftly to turn exploration wins into production success if they hope to emulate the rapid energy transformation seen in Guyana. This was the consensus from panelists speaking on the Exploring New Territories: Technology Innovation in African E&P panel at the Invest in African Energy Forum in Paris on Tuesday. 'My advice to Namibia is to capture the moment and do whatever you can to support companies, in terms of an enabling environment, to develop and produce. Great exploration success is nothing if it's not produced,' said Gil Holzman, CEO of Eco (Atlantic) Oil&Gas. Eco (Atlantic) has been active in Namibia since 2009 and currently holds four blocks in the Walvis Basin, along with Block 3B/4B in the Orange Basin, where it plans to drill a first exploration well by the end of this year or early 2026 with its joint venture partners. Last year, the company also acquired a 75% operating stake in Block 1 in the Orange Basin. Referencing Guyana's path to production, where over 13 billion barrels have been discovered and output is expected to reach one million barrels per day by 2026, Holzman noted: 'Proximity to the U.S. and the fact that Guyana didn't have existing infrastructure opened the door for international companies to set the tone – in line with PSCs – to bring in technology and expertise.' Drawing clear parallels between international success stories and emerging opportunities in Africa, Jean-Marc Kloss, Managing Director for West Africa at SLB, emphasized the role of global collaboration and talent mobility in accelerating project timelines. 'Fast-tracking development in Africa is possible,' he said. 'From exploration to discovery to drilling, there is a lot of learning, technology and people that we have brought in from Guyana. We are in a global environment.' He pointed to Brazil and Nigeria to underscore Africa's untapped potential and the need for greater project sanctioning. 'Brazil has 30 deepwater rigs – Nigeria has one. Brazil has 54 FPSOs – Nigeria has 14. There is huge potential, unbelievable resources in Africa,' Kloss said. 'There has been no sanction of a deepwater project in years – the first one was the $5 billion [UTM FLNG facility] last year.' Arthur Ename, Vice President, Global Accounts, Africa at NOV, emphasized the difference between drilling success and actual resource monetization. 'It's one thing to drill – it's another to produce the reserve that is underground. Eni did extremely well with [the Baleine project in Ivory Coast] by bringing infrastructure in-country that allowed them to start production very fast.' Moderated by Justin Cochrane, Director of African Regional Research at S&P Global Commodity Insights, the panel made clear that while Africa has entered a promising new chapter in exploration, translating that promise into value will depend on swift regulatory decisions, infrastructure planning and technology transfer. Distributed by APO Group on behalf of Energy Capital&Power.
Zawya
07-05-2025
- Business
- Zawya
Invest in African Energy (IAE) 2025: Namibia's Petroleum Commissioner to Highlight Energy Investment Potential
Namibia's Ministry of Mines and Energy Petroleum Commissioner, Maggy Shino, will speak at the Invest in African Energy (IAE) 2025 forum in Paris, offering insights into the country's rapidly evolving hydrocarbon sector and the broader opportunities it presents for upstream investment and partnerships. Namibia has solidified its status as a premier frontier market, with a string of high-impact discoveries in the Orange Basin driving global investor interest. Galp's Mopane series of light oil finds – estimated to hold at least 10 billion barrels – alongside TotalEnergies' Venus and Shell's Graff discoveries, have positioned the basin among the most prospective in the world. Rhino Resources announced a discovery with its Capricornus-1X well in April 2025, following confirmation of a hydrocarbon reservoir with the Sagittarius-1X well in February. First oil from the Venus field – estimated to hold over five billion barrels of in-place resources – is targeted by 2030, with efforts underway to accelerate the development timeline. IAE 2025 ( is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 14-15, 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@ Beyond the Orange Basin, Commissioner Shino will spotlight exploration activity in other emerging basins, including Chevron's acquisition of an 80% operating stake in Blocks 2112B and 2212A in the Walvis Basin, underpinned by extensive seismic coverage. In the onshore Kavango Basin, ReconAfrica is advancing its 2024 drilling campaign targeting an estimated 3.4 billion barrels of recoverable oil in the Damara Fold Belt, with preparations currently underway to spud a second exploration well. Namibia's recently implemented open-door licensing system further enhances the investment climate, offering streamlined access to upstream opportunities and flexible entry points for new and existing players. 'Namibia continues to command international attention as a frontier leader in upstream development. Commissioner Shino's insights into new licensing, acreage availability and basin activity at IAE 2025 offer investors a rare opportunity to engage directly with the driving force behind Namibia's energy boom,' says Sandra Jeque, Event&Project Director, Energy Capital&Power. Distributed by APO Group on behalf of Energy Capital&Power.
