BP Confirms Oil and Gas Discovery in Namibia’s Hottest Offshore Basin

Core Insights - BP confirmed an oil and gas discovery in the Orange basin offshore Namibia, in collaboration with Eni through their joint venture Azule Energy [1][4] - The Volans-1X exploration well encountered 26 meters of net pay in gas condensate-bearing reservoirs, indicating strong petrophysical properties and a high condensate-to-gas ratio [3] - Namibia aims to replicate the success of Guyana in oil and gas exploration, although it faces challenges due to insufficient infrastructure for rapid development [5] Group 1: Discovery Details - The exploration well was drilled under Petroleum Exploration License 85 (PEL85), operated by Rhino Resources with a 42.5% working interest [2] - Co-venturers in the project include Azule Energy (42.5%), NAMCOR (10%), and Korres Investments (5%) [2] - Initial laboratory analysis of samples from the well showed a liquid density of approximately 40° API gravity [3] Group 2: Industry Context - The Volans-1X well marks the third significant discovery in 2025 for Azule Energy partners, following other notable finds in Namibia and Angola [4] - Other major oil and gas companies, such as Shell and TotalEnergies, have also made significant discoveries in Namibian waters, contributing to an exploration rush [4] - BP has shifted its strategy to focus on core oil and gas operations, announcing 11 exploration discoveries this year across various basins [6]