Saipem 12000 drillship to test extension of Capricornus discovery offshore Namibia

Rhino Resources reported that it has contracted the deepwater Saipem 12000 drillship to drill an appraisal well on the light oil Capricornus discovery in the Orange Basin offshore Namibia.

The Capricornus-1A well, located in Block 2914 in PEL 85, will test the lateral extent of the accumulation and further appraise reservoir quality and fluid characteristics within the Lower Cretaceous targets. 

Results should also help strengthen the partners’ understanding of the reservoir and fluid distribution across the block, Rhino said.

The company operates PEL 85 with a 42.5% interest. Co-venturers are Azule Energy (42.5%), NAMCOR (10%) and Korres Investments (5%).

“The Capricornus-1A well represents a critical data point in defining the development potential of the Capricornus reservoir system and its potential integration with other discoveries made on PEL 85," Rhino CEO Travis Smithard said. “The wireline and drillstem data gathered will be analyzed in light of flow assurance, geomechanical and fluid characteristics. These fluid and dynamic datasets will assist in our ongoing evaluation of the Capricornus discovery and, together with insights from recent wells, will help inform our approach to the further appraisal and development of the broader acreage…”

In other news, earlier this week, Saipem also secured a new Limited Notice to Proceed, worth about $150 million, by ExxonMobil Guyana for the engineering, procurement, construction and installation of the subsea structures, umbilicals, risers and flowlines system for the Longtail project offshore Guyana.