Rhino Resources has completed drilling a well in the Orange Basin after confirming that there is oil-bearing rock.
Rhino operates the petroleum exploration licence 85, which is located between the Shell and Mopane oil discoveries. The National Petroleum Corporation of Namibia (Namcor) is a partner in the licence, owning 10%.
The Capricornus-1A well was drilled in May to collect more information about the Capricornus discovery.
“The Capricornus-1A well has provided important information that improves our understanding of the area and supports the next phase of appraisal work. Each well drilled in the Orange Basin gives Namibia a clearer picture of the potential of its offshore resources,” Namcor acting managing director Mtundeni Ndafyaalako says in a statement released on Tuesday.
Data from Capricornus-1A will be combined with data collected from other appraisal wells to support further exploration in the licence area. The Capricornus-1X well discovered oil-bearing rock in early 2025.
“The Capricornus-1A well was drilled safely and without incident in Namibia’s Orange Basin. The well reached a total depth of 4 818 metres and confirmed the presence of oil-bearing rock linked to the earlier Capricornus-1X discovery,” Namcor spokesperson Paulo Coelho says.
Rhino Resources and Angolan Azule Energy each own 42.5% of the block, with Korres Investments owning the remaining 5%.
