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Rhino Resources targets new exploration well offshore Namibia
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Rhino Resources targets new exploration well offshore Namibia
Jun 17, 2025 4:37 AM

CAPE TOWN, June 17 (Reuters) - African energy explorer

Rhino Resources and its partner Azule Energy will drill the new

Volans-1X exploration well offshore Namibia in late July or

early August, a company spokesperson said on Tuesday.

The Volans prospect is being investigated soon after Rhino

Resources struck light oil in April at its second successful

exploration well, Capricornus 1-X, that was drilled in the

prolific Orange Basin off Namibia's coast.

"Testing Volans is a priority for a potential fast-track

development option," a company spokesperson said, adding that

its morphology could make it easier to exploit than Capricornus.

The Cape Town-headquartered company is the operator of

Petroleum Exploration License 85 in partnership with Azule

Energy, a BP and Eni joint venture, as well as

national oil company Namcor and Korres Investments.

"If Volans-1X fails, options include appraising Sagittarius,

drilling another prospect or returning to Capricornus," the

spokesperson said.

Other operators that have found significant discoveries

offshore the southern African country include Shell and

Galp Energia.

TotalEnergies expects to take a final investment

decision on its deep-water

Venus prospect

next year as Namibia pushes to become a first-time oil

producer by the turn of the decade.

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