Canadian firm Reconnaissance Energy Africa (ReconAfrica) has discovered traces of oil at its onshore Naingopo well in Namibia, prompting plans to fast-track further drilling in the region, the company’s Chief Executive was quoted by Reuters as saying.
Situated near the ecologically sensitive Okavango Delta, ReconAfrica has faced significant opposition from Namibian environmental groups and local communities. However, the company has the support of the Namibian government, allowing it to continue drilling across the extensive acreage it holds. ReconAfrica has obtained the necessary environmental clearance for multiple wells.
“We are thrilled by the findings at this well, as it validates the potential of the region and confirms a functioning petroleum system within the Damara Fold Belt,” stated ReconAfrica CEO Brian Reinsborough. He further highlighted the significance of the discovery, noting the 50-metre net reservoir that shows clear indications of oil. The discovery is seen as a significant step forward in Namibia’s rising status as an exploration hotspot, despite some setbacks earlier this year. Notably, Shell ceased field development due to commercial viability concerns, and Chevron’s initial offshore well in the Orange Basin failed to yield commercially viable oil or gas.
Reinsborough noted that additional oil indicators in the Naingopo well will undergo further analysis, and based on the technical data, the company intends to drill a second well, Prospect 1, prior to the Kambundu well. The PEL 73 block, where ReconAfrica holds a 70% stake, also includes 20% ownership by Norway’s BW Energy and 10% by Namcor, Namibia’s national oil company. Despite challenges, ReconAfrica’s findings keep the exploration momentum in Namibia alive.