Eni has confirmed an oil discovery at the Capricornus 1-X well in the Orange basin offshore Namibia.
The drilling took place in Petroleum Exploration Licence 85 (PEL85), operated by Rhino Resources with a 42.5% working interest.
Azule Energy, a joint venture between Eni and bp, also holds a 42.5% stake, alongside Namcor (10%) and Korres Investments (5%).
Drilled using the Noble Venturer drillship, the well was spud on 17 February and reached its total depth on 2 April, successfully reaching the Lower Cretaceous target.
The Capricornus 1-X well encountered 38m of net pay, revealing a reservoir with good petrophysical properties and no water contact.
Hydrocarbon samples and sidewall cores were obtained through comprehensive wireline logging operations.
A production test conducted on the well demonstrated a surface-constrained flow rate exceeding 11,000 stock tank barrels per day on a 40/64in choke.
The light oil, with a 37° API gravity, showed minimal associated gas, less than 2% CO₂ and no hydrogen sulphide.
Further laboratory analysis will be performed on the fluid samples to better understand the reservoir’s characteristics.
Following the successful test, plans are in place to temporarily plug and abandon the well, with the Noble Venturer set to be released.
In a related development, Eni has signed a memorandum of understanding with YPF to explore potential involvement in Argentina’s LNG project.
The initiative seeks to exploit the Vaca Muerta onshore gas field to export as much as 30 million tonnes per annum (mtpa) of LNG by the end of the decade.
Moreover, Eni’s Coral Norte floating LNG development plan in Mozambique has received government approval, setting the stage for a final investment decision.
The project is expected to produce 3.55mtpa of LNG over a 30-year period from the Rovuma Basin offshore Mozambique.
