Portuguese energy company Galp Energia has announced a significant addition of 700 million barrels of oil equivalent (BOE) to its 3C contingent resources in Namibia’s offshore Orange Basin.
This 25% year-on-year increase brings Galp’s total estimated resources in the region to 2.79 billion BOE.
The updated figures, independently verified by consultancy DeGolyer and MacNaughton, are based on data collected up to November 30, 2024.
The offshore discoveries were made within Petroleum Exploration Licence 83 (PEL 83), covering nearly 10,000 square kilometres in Namibia’s southern offshore area.
Galp holds an 80% operating interest in PEL 83, with the remaining 20% equally shared between the National Petroleum Corporation of Namibia (Namcor) and Custos Energy.
The appraisal campaign included drilling at Mopane-1X, Mopane-2X, and Mopane-1A wells, revealing significant hydrocarbon potential.
Galp began drilling operations on the Mopane 2A well in December 2024, where it found more light oil and gas condensate in the second of up to four wells within its current exploration and appraisal (E&A) program in license PEL 83 off the coast of Namibia.
The Mopane-3X well, drilled in early 2025, encountered light oil and condensates in multiple targets and a deeper sandstone interval, indicating high-quality reservoirs with favourable porosity and permeability.
To enhance subsurface understanding and support future development, Galp completed a high-resolution 3D seismic survey over the southern portion of PEL 83 in March 2025.
Namibia’s growing profile as a frontier oil destination continues to attract robust investor interest, with foreign direct investment (FDI) surging to $655 million in the fourth quarter of 2024, according to the Bank of Namibia (BoN).
The government is preparing to launch a fresh licensing round for offshore oil and gas exploration as it seeks to attract investment and accelerate drilling activities
With this licensing round, the government hopes to secure at least two Final Investment Decisions (FIDs) in its emerging oil and gas sector by 2027, a milestone that could pave the way for production within the next five years.
These developments are an indication of one thing— Namibia’s growing prominence in the global energy sector, with the Orange Basin attracting significant interest from international oil companies.
