Chevron farms into oil-proven Walvis Bay license offshore Namibia

Offshore staff

WINDHOEK, Namibia — Chevron Namibia Exploration has agreed to assume an 80% operated interest in PEL 82 in the Walvis Basin offshore Namibia.

Existing co-venturers NAMCOR and Custos Energy will each retain a 10% carried interest in the license, which covers blocks 2112B and 2212A.

About 70% of the total block area is covered by more than 3,500 km of 2D and 9,500 sq km of 3D seismic data. 

Previous drilling activity on PEL 82 included the Wingat-1 light oil discovery well and the Murombe-1 dry-hole well. According to Custos, results confirmed a regional extension and presence of the Barremian-Aptian oil-prone source rock (Kudu shale).

Wingat-1 well recovered 38-41°API oil to surface, while Murombe-1 penetrated the Baobab sands with about 20% porosity.

“This is one of the most advanced and interesting opportunities offshore Namibia outside of the Orange Basin,” said Custos Chairman and CEO Knowledge Katti.

04.30.2024