Upstream in Namibia

Galp's upstream portfolio in Namibia consists of Petroleum Exploration Licence 83 (PEL 83). Galp holds an 80% stake in PEL 83, which covers an area of almost 10,000 square kilometres in the Orange Basin, located in the southern part of Namibian waters, close to the border with South Africa.

Portfolio of upstream projects in Namibia

   
Block PEL 83
Basin Orange Basin
Type Shallow water to ultra-deep water
Phase Exploration
Partners Galp 80% (op.) | NAMCOR 10% | Custos 10%

Timeline

4Q23
2022
2021
2020
2019
2018
2016
2013
2012

Once the entire contractual structure had been finalised and the technical and human resources to carry out the exploration campaign had been assembled, the Hercules semi-submersible rig was duly mobilised, with the spud date set for mid-November.

Galp is planning an exploratory well, to be drilled in late 2023 or early 2024.

Nearby oil discoveries in the Graf-1 and Venus-1 wells, drilled by Shell and TotalEnergies respectively, have proven the presence of a functional oil system in the Orange basin, and with PEL 83 being located immediately to the north-northeast of these discoveries, the results could have an impact on the prospectivity of PEL 83.

Therefore, in September 2021, the partners of PEL 83 agreed to enter into the second two-year exploration period with the possibility of being extended for an additional year, until the 2nd of September 2024.

Analysing the results of the 3D seismic acquisitions of PEL 82 and PEL 83 to identify potential prospects and leads.

PEL 83 consortium successfully completes 3D seismic acquisition campaign, covering an area of 3,000 km2, with zero health, safety and environmental incidents, on time and on budget.

Galp delivers the Environmental Impact Assessments for potential drilling campaigns in both oil exploration licences.

PEL 82 consortium successfully completes 3D seismic acquisition campaign, covering an area of 5,000 km2.

Galp reaches agreement with the Namibian government to secure oil exploration licences in PEL 82 (previously PEL 23), in the Walvis basin, and PEL 83 (previously PEL 28), in the Orange basin.

Completion of an exploratory campaign, with the drilling of the Wingat and Murombe wells in the Walvis basin and the Moosehead well in the Orange basin.

Although the campaign did not result in any commercial discoveries, the potential for oil offshore Namibia has been proven.

Galp signs a farm-in agreement for the acquisition of a 14% stake in three oil exploration licences located offshore Namibia: PEL 23, in the Walvis basin, PEL 24 and PEL 28, both in the Orange basin.

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