![offshore drilling rig](/sites/default/files/styles/hart_news_article_image_640/public/image/2023/10/shutterstock-1028960563.jpg?itok=P3ioRMkc)
The rig is currently in transit along the coast of West Africa and is expected to reach Walvis Bay on Nov. 4, with an expected spud date in the mid-November. (Source: Shutterstock)
Portuguese E&P Galp is expected to start drilling wells near recent West African oil discoveries made in PEL 83, offshore Namibia, by Shell and TotalEnergies, according to an Oct. 19 press release by Sintana Energy.
In May, Galp entered into a contract for the SFL Corp. semi-submersible rig Hercules. The rig is currently in transit along the coast of West Africa and is expected to reach Walvis Bay on Nov. 4, with an expected spud date in the mid-November. The 115-day contract is for two wells and optional well testing.
The initial drilling campaign is targeting the Mopane complex at the southern end of PEL 83, as it “represents one of the most significant and attractive known opportunities in the basin today,” said Knowledge Katti, chairman and CEO of Custos Energy and a director of Sintana.
“The significant prospectivity of PEL 83 together with its relatively shallower water depth, position it to be one of the most significant and profitable developments in the Orange Basin,” he added.
PEL 83 is in Namibia’s Orange Basin. Custos and NAMCOR own 10% working interests in PEL 83, and are carried by Galp through first sales. Sintana has an indirect 49% interest in Custos.
Recommended Reading
Upstream, Midstream Dividends Declared in the Week of July 8, 2024
2024-07-11 - Here is a selection of upstream and midstream dividends declared in the week of July 8.
Solaris Stock Jumps 40% On $200MM Acquisition of Distributed Power Provider
2024-07-11 - With the acquisition of distributed power provider Mobile Energy Rentals, oilfield services player Solaris sees opportunity to grow in industries outside of the oil patch—data centers, in particular.
Trio Chairman Robin Ross Named CEO Less Than a Month After Return
2024-07-15 - Robin Ross, who last month returned to Trio Petroleum as board chair, has been named CEO while predecessor Michael Peterson will remain as a consultant.
Liberty Energy Warns of ‘Softer’ E&P Activity to Finish 2024
2024-07-18 - Service company Liberty Energy Inc. upped its EBITDA 12% quarter over quarter but sees signs of slowing drilling activity and completions in the second half of the year.
Talos Ups Buybacks, Pays Down Debt Post $1.29B QuarterNorth Deal
2024-07-22 - Talos Energy said it repaid $325 million in debt since closing its $1.29 billion cash-and-stock acquisition of E&P QuarterNorth in March.