Favourable results boost Block 2913B development prospects

Impact Oil & Gas says positive results from the appraisal and exploration program on Block 2913B, offshore Namibia, have provided crucial data required to advance development studies toward the first development of the oil block.

"We are very pleased with the results of the Venus-1X DST and the Venus-1A appraisal well, the second successful well in VenuThese positive results provide the crucial dynamic data required to progress development studies toward the first development on Block 2913B. The operator continues to make progress with an exciting exploration and appraisal program. We look forward to the results ahead of us, which we expect to de-risk similar prospects in the southern part of the blocks," said Impact Chief Executive Officer Siraj Ahmed.

This comes as the Deepsea Mira re-entered and side-tracked the Venus-1X discovery well and flowed oil from the test with positive results. 

"The operator and its partners are now interpreting the results of the flow test and incorporating them into the development studies, which are expected to be confirmed with the flow test of Venus-1A in Q4 2023," the UK-based independent exploration company said. 

Impact said Venus-1A appraisal well results were positive, having been successfully drilled, cored, and logged by the Tungsten Explorer to a total depth of 6,146m, approximately 13km north of the Venus discovery well.

"The Deepsea Mira will re-enter Venus-1A in the coming days to undertake a drill stem testing (DST). The Tungsten Explorer will now drill the Mangetti-1X exploration well in the northern part of Block 2913B." 

Impact (through its wholly-owned subsidiary, Impact Oil and Gas Namibia (Pty) Ltd) holds a 20% working interest in Block 2913B (PEL 56), operated by TotalEnergies EP Namibia B.V., which holds a 40% working interest, while QatarEnergy and NAMCOR respectively hold a 30% and 10% working interest in PEL 56.

Petroleum Exploration Licence 56, Block 2913B, is located offshore southern Namibia and covers approximately 8,215km² in water depths up to 3,000m.

In Block 2912 (PEL 91), the exploration company said it was currently evaluating the results of the Nara-1X well after it was successful.

Impact (through its wholly-owned subsidiary, Impact Oil and Gas Namibia (Pty) Ltd) also holds an 18.89% working interest in the adjacent Block 2912 (PEL 91), partnered with TotalEnergies (operator, with 37.78%), QatarEnergy (28.33%), and NAMCOR (15%). 

"The Nara-1X exploration well was drilled to a total depth of 6,181m, using the Tungsten Explorer drillship. A full wireline logging program was completed, and a core has been taken. However, the Nara-1X well was not flow tested, as the well was not successful. The Joint Venture is continuing to evaluate the results of Nara-1X."

Petroleum Exploration Licence 91, Block 2912, is located offshore southern Namibia, adjacent to, but outboard of, PEL 56, and covers approximately 7,884km² in water depths between 3,000 and 3,900m.

Impact has raised N$1.7 billion from its shareholders towards appraisal of the recent oil disocveries.

TotalEnergies has allocated almost 50% of its global exploration budget of N$5.5 billion (US$300 million) to Namibia this year, aiming to confirm the multibillion-barrel discovery in the Orange Basin, offshore Namibia.






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Last modified on Monday, 02 October 2023 21:44

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