TIRI MASAWI
Rhino Resources Namibia have confirmed discovery of high liquid-yield gas condensate in the ongoing exploratory drilling on Block 2914A in the offshore Orange Basin of Namibia.
The Petroleum Exploration License (PEL85) covered is operated as a joint venture by Rhino with a working interest of 42.5%, Azule Energy 42.5%, National Petroleum Corporation of Namibia (NAMCOR with 10%, and Korres Investments with 5%)
Commenting on the update, Chief Executive Officer Travis Smithard said the company is delighted with the results.
“Rhino, on behalf of the PEL85 JV, are delighted to announce the discovery of a high liquid-yield gas condensate in an excellent quality reservoir at the Volans-1X well,” he said.
He added that, “ This is our third consecutive hydrocarbon discovery on the Block and further enhances our understanding of the sub-surface. This well result opens up an exciting new play fairway within the licence, identifying different reservoir and fluid type in this well from the recent discoveries made at Sagittarius-1X and Capricornus-1X. Rhino, in collaboration with our partners Azule Energy, NAMCOR and Korres will now evaluate the results of the ongoing testing and integrate them into blockwide prospectivity studies.”
In a statement released on Thursday Rhino Resources said the well found 26m of net pay in rich-gas condensate bearing reservoirs, with the reservoir showing excellent quality petrophysical properties and no observed water contact.
“Hot shot laboratory analysis on two samples (at the top and base of the reservoir interval) showed a high condensate to gas ratio (CGR) of 140 and a liquid density of around 40° API gravity. Hydrocarbon samples and sidewall cores were collected through intensive wireline logging operations. Laboratory studies will continue to be conducted on the rest of the fluid samples, side wall cores and cuttings collected during the campaign,” the statement said.
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