African energy explorer Rhino Resources and its partner Azule Energy will drill the new Volans-1X exploration well offshore Namibia in late July or early August, a company spokesperson said on Tuesday.
The Volans prospect is being investigated soon after Rhino Resources struck light oil in April at its second successful exploration well, Capricornus 1-X, that was drilled in the prolific Orange Basin off Namibia's coast.
"Testing Volans is a priority for a potential fast-track development option," a company spokesperson said, adding that its morphology could make it easier to exploit than Capricornus.
The Cape Town-headquartered company is the operator of Petroleum Exploration License 85 in partnership with Azule Energy, a BP and Eni joint venture, as well as national oil company Namcor and Korres Investments.
"If Volans-1X fails, options include appraising Sagittarius, drilling another prospect or returning to Capricornus," the spokesperson said.
Other operators that have found significant discoveries offshore the southern African country include Shell and Galp Energia.
TotalEnergies expects to take a final investment decision on its deep-water Venus prospect next year as Namibia pushes to become a first-time oil producer by the turn of the decade.
(Reuters)