Rhino Resources has spudded its latest exploration well offshore Namibia, targeting the Volans prospect.
Located in Petroleum Exploration Licence 85 in the Orange basin, the Volans-1X probe was spudded on Thursday at 10am local time by Northern Ocean’s semi-submersible Deepsea Mira.
The well is located in water depths of about 1200 metres and is expected to take around 55 days to drill and, said Rhino, adding that the probe represents “a strategic step in deepening the understanding of the highly prospective PEL 85”.
The ambitious privately-owned player has so far had success with both exploration wells it has so far drilled on the licence — Sagittarius-1X and Capricornus.
During testing, the latter well flowed more than 11,000 barrels per day of light oil.
Volans-1X, however, is testing of a new play with potentially a sheet-like reservoir morphology which, in a success case, would help inform development option for Rhino and its partners, Azule Energy, Namcor and Korres Investments.
Rhino chief executive Travis Smithard said Volans-1X will help the licence partners to “strategically” advance their understanding of PEL 85’s potential.