BP confirmed on Monday an oil and gas discovery in the Orange basin offshore Namibia, where supermajors have made several major discoveries in recent years.
The UK-based energy giant, which is a co-venturer in the exploration license via its 50/50 company with Italy’s Eni, Azule Energy, can confirm the preliminary results of the Volans-1X exploration well, as reported by operator Rhino Resources earlier this month.
Petroleum Exploration License 85 (PEL85), where the well was drilled, is operated by Rhino Resources with a working interest of 42.5%. Co-venturers are Azule Energy with 42.5%, NAMCOR with 10%, and Korres Investments with 5%.
The exploration well encountered 26 meters of net pay in rich gas condensate-bearing reservoirs, with the reservoir showing excellent petrophysical properties and no observed water contact, BP said on Monday. Initial laboratory analysis of two samples indicated a high condensate-to-gas ratio with liquid density of approximately 40° API gravity. The results are undergoing further evaluation.
The Volans-1X well is the third significant oil and gas discovery in 2025 for Azule Energy partners, following the Capricornus-1X light oil find in Namibia and the Gajajeira-01 gas discovery in Angola.
Other oil and gas supermajors, including Shell, TotalEnergies, and Portugal-based energy firm Galp, have already made large discoveries offshore Namibia. Shell’s Graff and TotalEnergies’ Venus discoveries have launched the exploration rush in Namibian waters.
Namibia hopes to become the next Guyana, but it lacks infrastructure to fast-track the discoveries, which make them more expensive and difficult to develop and monetize.
BP, which in February announced a major strategy reset to slash investments in renewables and focus on its core oil and gas business, has made 11 exploration discoveries this year across several basins, including the Far South discovery in the Gulf of America and a major discovery in the Bumerangue block in Brazil’s prolific Santos Basin, the supermajor’s biggest discovery in 25 years.
By Tsvetana Paraskova for Oilprice.com
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