Galp Begins Offshore Drilling Campaign in Namibia

Galp Energia has commenced a significant offshore oil exploration and appraisal campaign at its Mopane discovery site in Namibia, with operations starting on October 23, 2024, using Saipem's Santorini drillship. The project includes up to four wells aimed at assessing the Mopane complex, which is projected to hold at least 10 billion barrels of oil equivalent. The initial findings from previous wells, Mopane-1X and Mopane-2X, revealed substantial light oil columns, indicating the site's high potential. This initiative is part of a broader wave of offshore drilling in Namibia, with other companies like TotalEnergies and Chevron also planning campaigns following recent oil discoveries. The activity continues despite challenges posed by tighter development budgets due to global energy transitions. The exploration efforts have garnered interest from various oil companies, highlighting Namibia's emerging status as a key hydrocarbon province.