Africa Oil Corp.’s multi-well appraisal and exploration drilling program in Namibia is due to begin before the end of February to appraise the Venus light oil discovery in Block 2913B.

The Venus discovery is a light oil and associated gas field located in the Orange Basin, about 290 km offshore southern Namibia, and in a water depth of approximately 3,000 m.  Drilled by the Maersk Voyager drillship to a total depth of 6,296 m, it encountered a high-quality light oil-breaking sandstone reservoir of Lower Cretaceous age. 

"The Venus discovery, which according to Wood Mackenzie was the world's largest oil discovery in 2022, has opened up the Orange Basin as a world-class petroleum province,” Africa Oil President and CEO Keith Hill said in a Feb. 22 press release.

The program will target up to four wells—Venus-1A, Venus-1X, Nara-1X and Nara-1A—and investigate the Nara prospect, a possible westerly expansion of Venus, following successful appraisals of the Venus discovery. 

In Block 2913B, the first appraisal well in the discovery, Venus-1A, will be drilled using the Tungsten Explorer drillship, followed by a Deepsea Mira drill stem test. Then, still using the Deepsea Mira, the Venus-1X exploration well will be re-entered and side-tracked to conduct a second drill stem test in order to evaluate the Venus reservoir. 

In Block 2912, Nara-1X will be drilled and flow tested by the Tungsten Explorer and if successful, the Nara-1A appraisal well will be drilled and flow tested to explore structure and reservoir quality for the possible expansion of the Venus accumulation into Block 2912. 

“I am delighted that we are at the forefront of this exciting play through our shareholding in Impact, and a 20% operated interest in Block 3B/4B that lies on trend with the Venus structure,” said Hill. “We are the only publicly listed independent oil and gas company with an interest in Venus, and our material Orange Basin acreage presents a very attractive opportunity for investors looking for an exposure to its potentially transformational upside."

Impact Oil and Gas Namibia Pty Ltd. holds a 20% working interest in Block 2913B (PEL 56). It is operated by TotalEnergies EP Namibia, who holds 40% working interest, Qatar Energy who holds 30% and NAMCOR who holds 10%. Impact also holds 18.89% working interest in Block 2912 (PEL 91), with TotalEnergies as operator and holding 37.78% working interest, QatarEnergy holding 28.33% and NAMCOR with 15%. 

Africa Oil Corp. is a Canadian oil and gas company with assets in Nigeria, Kenya, Guyana and West and South Africa.