BP confirms hydrocarbon discovery offshore Namibia

Group 1 - BP has confirmed an oil and gas discovery at the Volans-1X exploration well in Namibia's Orange Basin, with a 50% interest in Azule Energy, alongside NAMCOR and Korres Investments [1][3] - The exploration well reached a true vertical depth subsea of 4,497.5m and encountered 26m of net pay in gas condensate-bearing reservoirs [2][4] - Initial laboratory analysis showed a high condensate-to-gas ratio exceeding 140 barrels per million standard cubic feet, with a liquid density of around 40° API gravity [2] Group 2 - The Volans-1X well is the third significant hydrocarbon discovery in 2025 for Azule Energy partners, following the Capricornus-1X and Gajajeira-01 discoveries [3] - BP has made 11 exploration discoveries this year across various basins, including successes in the Gulf of Mexico and Brazil's Santos Basin [3] - The Capricornus well encountered 38m of net pay with good reservoir properties and no water contact, drilled using the Noble Venturer drill-ship [4]