Pancontinental Energy Uncovers Massive 20 Billion Barrel Oil Kitchen Beneath Namibian Orange Basin
Australia-based Pancontinental Energy has revealed groundbreaking study results showing a massive oil kitchen directly beneath the Saturn Complex in Namibia’s Orange Basin, with the mature area estimated to have produced approximately 20 billion barrels of oil—sufficient to charge the full Saturn prospect inventory to high-case scenarios.
The company’s comprehensive basin modeling study of petroleum exploration license PEL 87 has dramatically increased confidence in the presence of high net-to-gross reservoir systems and significant hydrocarbon deposits offshore Namibia. Chief Executive Officer Iain Smith expressed satisfaction with the progress, confirming that the Saturn Complex is exceptionally well-positioned to receive oil into reservoir systems.
The breakthrough findings identify the Kudu Shale formation as the primary hydrocarbon source for major light oil discoveries south of PEL 87, with approximately 200 meters of marine oil shale encountered at the Moosehead-1X exploration well. The formation extends across the entire PEL 87 area with thickness generally between 200 to 300 meters.
Two discrete gas kitchens were identified at greater depths, with the proximity of Saturn Complex targets to the underlying oil kitchen placing exploration targets in an excellent position to receive hydrocarbon charge with limited vertical and short-distance lateral migration required.
The 10,970-square-kilometer PEL87 license operates under a joint venture led by Pancontinental Orange (75%), Custos Investments (15%), and National Petroleum Corporation of Namibia (10%), positioning the partners for potentially transformative discoveries in the region.
Source: offshore-energy.biz
