Namibia’s next oil drilling wave to start with Galp rig arrival

Namibia’s next wave of offshore oil drilling is set to begin with the arrival of a rig near an existing discovery made by Galp Energia SGPS SA.

Saipem SpA’s Santorini drillship showing a destination of “Mopane,” the name of the find made by Galp, arrived at the site of the field early last Wednesday, according to ship tracking data compiled by Bloomberg. At least four drilling campaigns, including wells by TotalEnergies SE and Chevron Corp., are expected to start before the end of the year after a string of significant discoveries first made in the Atlantic waters.

The Portuguese explorer declined to comment. Galp chief executive officer Filipe Silva said in July that the company was preparing for the first of four new Namibia wells for the final quarter of the year.

Namibia’s discoveries are drawing increased exploration activity even as oil majors’ development budgets have become more constrained, in line with shifting priorities in the global energy transition.

Rhino Resources will also begin a campaign of two wells starting in November and Chevron is expected to drill in December, Maggy Shino, Namibia’s petroleum commissioner, said on 9 October at a Cape Town conference. Total is planning to explore its Tamboti prospect this year.

-BLOOMBERG