PEL 83 Drilling Rig Secured
Date
5/5/2023 11:10:26 PM
(MENAFN- News Direct) Namibia | May 05, 2023 02:45 PM Eastern Daylight Time
Custos energy (Pty) Ltd. (together with Custos Investments (Pty) Ltd.,“Custos” or the“Company”) is pleased to confirm that a subsidiary of Galp Energia (“Galp”), the operator of petroleum Exploration License 83 (“PEL 83) in the heart of Namibia's Orange Basin, has signed a contract with SFL Corporation (“SFL) for semi-submersible rig Hercules.
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PEL 83 is located immediately north of PEL 39 home to Shell's basin opening discoveries at Graff-1, La Rona-1 and Jonker-1. Additionally, it is located north and west of PEL 56 where TotalEnergies announced is giant oil discovery at Venus-1. Both Shell and Total continue to progress exploration and appraisal activities on their blocks with active 2023.
“Our blocks, including PEL's 83, 87 and 90, are located at the heart of the Namibian Orange Basin. The significant prospectivity of PEL 83 together with its relatively shallower water depth, position it to be one of the most significant and profitable developments.” said Mr. Knowledge Katti, Chairman and Chief Executive Officer of Custos.
“We are happy with our partnership on PEL 83 and look forward to continuing to support Galp in this next phase of exploration.” he added.
ABOUT CUSTOS ENERGY: Custos is a Namibian independent oil and gas exploration company focused on attracting investment and expertise to the Namibian offshore industry. Founded over a decade ago by Mr. Knowledge Katti, Custos continues to develop its portfolio with international partners for the benefit of all Namibians.
On behalf of Custos Energy (Pty) Ltd.,“Knowledge R. Katti”Chairman & Chief Executive Officer
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