Ambitious multi-well drilling campaign

Accelerating Namibian exploration

NAMIBIA: Impact Oil & Gas Limited’s move to accelerate the development of the Venus discovery while exploring for additional resources in the Orange Basin is aimed at accelerating offshore exploration along Namibia’s coast.

As Namibia seeks to fast-track the development of its oil and gas resources to address energy poverty, boost energy access, ensure energy affordability, drive socioeconomic development and regional energy security, Impact Oil & Gas’s move to expand drilling activities on the prospect represents good news for the country’s burgeoning oil and gas industry.

Impact Oil & Gas has launched a multi-well drilling program offshore Namibia to assess the hydrocarbon reserves available in TotalEnergies’ large-scale Venus discovery, as well as their flow potential into adjacent blocks.

Impact Oil & Gas owns an 18.89% stake in Block 2913B - which comprises the Venus discovery in the Orange Basin offshore Namibia - together with TotalEnergies (40%), QatarEnergy (10%) and Namcor (30%). The exploration campaign will include the drilling and re-entry of four wells in Block 2913B and 2912 leveraging the Tungsten Explorer drillship and the Deepsea Mira drill stem test as from the end of February 2023.

“(The project is) designed to accelerate the appraisal of the Venus field and drill the first exploration well in our neighbouring license, Block 2912. This program will provide vital information that will hopefully enable the joint venture to press ahead with development,” says Siraj Ahmed, Chief Executive Officer of Impact Oil & Gas Limited.

With data from the program set to influence TotalEnergies’ planned development of the Venus discovery from as early as mid-2023, as well as the production centre for Nara–1x well in Block 2912, Namibia is well on its way to kickstart its oil and gas market boom.

“We believe the work which Impact has kickstarted is crucial for enabling Namibia to fast-track the development and exploitation of the massive hydrocarbon reserves in the Venus prospect and adjacent blocks in the Orange Basin. The potential of the Orange Basin in unlocking a new era of energy security and gross domestic product growth for Namibia and its southern African counterparts are enormous and Impact’s move represents a key step towards unlocking the full potential of the market,” stated NJ Ayuk, the Executive Chairman of the AEC.

He added that, “TotalEnergies’ move to direct $300 million – half of its 2023 budget – in exploring Namibian basins this year is a huge testament of the great potential the Orange Basin holds in making energy poverty history across the African continent while unlocking new revenue streams for global players.”