Page 14 - AfrOil Week 50 2021

AfrOil PROJECTS & COMPANIES AfrOil

Another well spudded offshore Namibia

NAMIBIA NAMIBIA’S offshore oil projects have received Rushworth said the development held huge
another boost with another well spudding this promise.
week. The development is seen as potentially “This is a very exciting time for Pancontinen-
transformative for Namibia’s domestic oil tal, with the huge oil potential of our Saturn tur-
industry. bidite complex in PEL 87 being drilled on-trend
A second well spudded offshore Namibia by Shell and Total. These wells are recognised
on-trend to Pancontinental’s PEL 87. This latest worldwide as two of the most important oil
spudding follows a recent moves by TotalEn- exploration wells of the year,” he said.
ergies to spud the Venus-1X offshore explo- Rushworthy noted that Total’s Venus-1 well
ration well off of the Namibian coast in early had spudded recently, and now Shell has started
November. its Graff-1 well.
PEL 87 is a joint venture with operator Pan- “Pancontinental’s Saturn turbidite complex is
continental Orange Pty Ltd holding 75%, Cus- geologically similar in many ways, particularly
tos Investments (Pty) Ltd 15% and National to the Venus Prospect,” he explained. “These
Petroleum Corporation of Namibia (NAM- turbidite plays are like very large oil fields else-
COR) 10%. where in Africa, triggering significant interest in
Two wells are now drilling on-trend to Pan- offshore Namibia from major oil companies and
continental’s giant PEL 87 Saturn oil play, with Africa specialists.
Shell commencing the Graff-1 oil exploration “In this prime region, drilling success could
well in the Orange Basin, offshore Namibia open up a complete new African oil play. Pan-
using drillship Ensco DS-10 and French major continental is the only listed junior energy
Total also now drilling the Venus-1 ultra-deep company strategically positioned alongside the
exploration well. major industry players in this exciting oil play
Pancontinental technical director Barry offshore Namibia.” ™

Invictus secures rig for wildcat well

ZIMBABWE AUSTRALIAN junior Invictus Energy has cho- maturing additional prospects to target with a
sen a drilling rig to spud a wildcat in Zimbabwe potential second well.
in 2022, and is close to securing London-head- Under the MoU, Invictus must exercise the
quartered oil and gas explorer Cluff Energy option for the additional well by February 15.
Africa as its partner to help fund the exploration “We will now proceed to secure the remain-
campaign, Upstream reports. ing long lead items and services required to
Perth-based Invictus announced on Decem- commence drilling operations,” Invictus man-
ber 10 that it had executed a memorandum of aging director Scott Macmillan said in an ASX
understanding (MoU) with Poland-based Exalo announcement. “We will benefit immensely
Drilling to drill the Muzarabani-1 exploration from inheriting an active drilling rig and crew
well at the Cabora Bassa project in Zimbabwe, and a modest mobilisation from Tanzania to the
and an option for an additional exploration well project area. The company plans to announce
for the basin opening drilling campaign sched- the final drilling locations and further details of
uled to commence in May 2022. the exploration programme in the New Year.”
According to Invictus, the structure holds Invictus has also executed a farm-in option
prospective resources of 8.2 trillion cubic feet agreement with Cluff Energy Africa for the
(232.2bn cubic metres) of gas and 247mn bar- two-well campaign, with the London-based
rels of condensate. The ASX- and OTC-listed player funding 33.33% of the costs for a 25%
company plans to deploy the Exalo No. 202 non-operating interest in the asset, according
rig in northern Zimbabwe as soon as that unit to Upstream.
completes its work for PanAfrican Energy on Under the terms of the non-binding agree-
the Songo Songo gas field in Tanzania. ment, Cluff – which is looking to assemble a
“Exalo personnel recently completed a visit portfolio of African oil and gas exploration
to Zimbabwe to review the potential drilling assets with the intent of raising further capital
locations and logistics options,” said the oper- in early 2022 – must exercise the option by end-
ator, which is now processing and interpreting March to enter into a binding farm-in and joint
recently acquired seismic data to refine the operating agreement and obtain the necessary
Muzarabani-1 well location and design and funding. ™

P14 www. NEWSBASE .com Week 50 15•December•2021