Namibia’s Oil Boom Accelerates as Rhino Resources Prepares Major Offshore Drilling Campaign
African energy explorer set to drill high-potential Volans-1X well in prolific Orange Basin as country races toward first oil production by 2030
Namibia’s transformation into a major oil producer is gaining momentum as Rhino Resources and partner Azule Energy prepare to drill the Volans-1X exploration well offshore in the Orange Basin within the next month. The Cape Town-based company, fresh from striking light oil at its Capricornus well in April, is betting that the new Volans prospect could offer a faster route to commercial production.
The drilling campaign, scheduled for late July or early August, represents another crucial step in Namibia’s march toward becoming a first-time oil producer by the turn of the decade. The Volans prospect’s favorable geology could make it easier to exploit than previous discoveries, with company officials describing it as “a priority for a potential fast-track development option.”
Rhino Resources operates Petroleum Exploration License 85 in partnership with Azule Energy – a joint venture between oil giants BP and Eni – alongside national oil company Namcor and Korres Investments. The partnership reflects the growing international confidence in Namibia’s offshore potential, with other major operators including Shell, Galp Energia, and TotalEnergies all making significant discoveries in the region.
The timing is particularly significant as TotalEnergies prepares to make a final investment decision on its deep-water Venus prospect next year. The French energy giant’s project, combined with other discoveries in the Orange Basin, is positioning Namibia as one of the world’s most exciting new oil frontiers.
Source: Reuters
