NAMCOR Commences offshore Volans-1X Drilling in Namibia

The National Petroleum Corporation of Namibia (NAMCOR) has started drilling at the Volans-1X offshore exploration well. This move marks a major milestone in Namibia’s expanding oil and gas sector. Located within Block PEL 85 of the Orange Basin, the well is part of a broader strategy to unlock the region’s hydrocarbon potential.

Rhino Resources, the operator of Block PEL 85, is leading the operation. In doing so, the company is also working closely with its joint venture partners NAMCOR, Azule Energy, and Korres Investments. Together, they aim to drive responsible and coordinated exploration efforts, ultimately working to unlock long-term value.

Drilling is currently being carried out by the Deepsea Mira, a semi-submersible rig operated by Northern Ocean. The well lies at an estimated water depth of 1,200 meters. In addition, the campaign is expected to last up to 55 days. During this period, the team will collect essential data to evaluate reservoir quality and assess potential production volumes.

Significance of the Volans-1X Campaign

Volans-1X is the third exploration well in Block PEL 85, highlighting significant drive toward progress in Namibia’s offshore exploration drive. As a result, the Orange Basin has become a magnet for global energy investors. This growing interest is largely due to its favorable geology and high resource potential.

The well targets a newly identified channel known as fairway. Experts believe this area contains a sheet like reservoir formation. A successful result could pave the way for future development and strengthen Namibia’s role in the regional energy market.

Joint Venture Structure and Strategic Collaboration

Rhino Resources and Azule Energy each hold a 42.5% stake in Block PEL 85. NAMCOR owns 10%, while Korres Investments holds 5%. This setup reflects a robust public-private partnership model. It helps balance investor confidence with national interests.

Commitment to Local Growth and Energy Security

Victoria Sibeya, Acting Managing Director of NAMCOR, emphasized the corporation’s commitment to sustainable energy development. She highlighted the importance of boosting upstream capacity, supporting the national economy, and encouraging local participation in the sector.

EXCEED is overseeing the construction of the well. Halliburton Namibia is providing integrated well services. These contributions align with Namibia’s goals for local capacity building and inclusive economic growth.