Rhino Resources has contracted a drillship from Saipem to undertake appraisal activities at a light oil discovery on Block 2914 in the Orange Basin offshore Namibia. The Saipem 12000 drillship will be used to drill the Capricornus-1A well, designed to test the extension of the Capricornus discovery within Petroleum Exploration Licence (PEL) 85. The block is operated by Rhino Resources, which holds a 42.5% stake, alongside co-venturers Azule Energy (42.5%), NAMCOR (10%) and Korres Investments (5%).
The Capricornus-1A appraisal well is expected to evaluate the lateral extent of the reservoir and further assess reservoir quality and fluid characteristics within Lower Cretaceous targets, building on results from the earlier Capricornus-1X discovery well.
Travis Smithard, Chief Executive Officer of Rhino Resources, said: “The Capricornus-1A well represents a critical data point in defining the development potential of the Capricornus reservoir system and its potential integration with other discoveries made on PEL 85. These fluid and dynamic datasets will assist in our ongoing evaluation of the Capricornus discovery and help inform our approach to further appraisal and development of the broader acreage in collaboration with our partners.”
The well will contribute to ongoing efforts to refine understanding of reservoir and fluid distribution across the licence area, as the partners progress appraisal of the highly prospective Orange Basin acreage. This move follows Rhino’s recent gas condensate discovery at the Volans-1X exploration well offshore Namibia, drilled using a semi-submersible rig owned by Northern Ocean and managed by Odfjell Drilling.
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