African Energy Player Rhino Resources Makes Oil Discovery Offshore Namibia

Rhino Resources, along with its partners in a petroleum exploration license (PEL) offshore Namibia, has announced a significant oil discovery. The discovery was made on Block 2914 within PEL85, which Rhino operates with a 42.5% interest. The joint venture partners in PEL85 include Azule Energy (42.5%), NAMCOR (10%), and Korres Investments (5%).

Travis Smithard, CEO of Rhino Resources, expressed his delight at the discovery, stating, “Rhino, on behalf of the PEL85 JV, are delighted to announce the discovery of hydrocarbons at the Capricornus 1-X well. The results of the comprehensive wireline and drill stem testing programmes have proven the existence of a high-quality light-oil bearing reservoir, with no observed water contact.”

The Capricornus 1-X well, drilled using the Noble Venturer drillship, reached a total depth of 4,957 meters in true vertical depth below the seabed on April 2. The well found 38 meters of net pay with good petrophysical properties and no observed water contact. A production test conducted across the reservoir achieved a surface-constrained flow rate above 11,000 stb/d on a 40/64” choke.

Following the successful testing, laboratory studies on fluid samples collected during the test will be conducted. The well will be temporarily plugged and abandoned, while the Noble Venturer drillship will move on to its next assignment with Tullow Ghana in May 2025.

Noble Venturer Drillship: A Key Player in Offshore Exploration

The Noble Venturer drillship, built in 2014 at Samsung Heavy Industries in Korea, has proven instrumental in deepwater drilling operations. With the ability to operate in water depths of up to 12,000 feet and a maximum drilling depth of 40,000 feet, the drillship is equipped to handle challenging geological environments.

In addition to its recent success with Rhino Resources, Noble Corporation secured a long-term extension with Petrobras’ Colombian subsidiary for another vessel, the Noble Discoverer semi-submersible rig. The extension ensures the rig’s presence with Petrobras until August 2026, with a possible extension until Q3 2027.

With a track record of safe and successful drilling operations, the Noble Venturer drillship continues to play a crucial role in offshore exploration activities, contributing to the discovery of new oil reserves and the advancement of energy projects in various regions.