BP confirms hydrocarbon discovery offshore Namibia

UK-based bp has confirmed an oil and gas discovery at the Volans-1X exploration well in Namibia's Orange Basin, operated by Rhino Resources. BP holds a 50% interest in Azule Energy, which is a co-venturer in the Orange basin, alongside Namibian national oil company NAMCOR and Korres Investments. The exploration well, drilled under Petroleum Exploration Licence 85 (PEL85), reached a true vertical depth subsea of 4,497.5m. It penetrated the Upper Cretaceous target and encountered 26m of net pay in gas con ...