Graff-1: On the Cusp of Hydrocarbon Success in Namibia
Shell has made a ‘significant oil and gas discovery’ at the Graff-1 well offshore Namibia. It is unclear yet whether the discoveries are large enough for Shell to develop the country’s first deepwater field.
The well results have so far shown at least two reservoirs in the Upper Cretaceous. Press reports suggest a 60m net light oil column in the Santonian, in high quality channel sands. With reports of volumes of 250–300 MMbo, the discovery may be economically viable, and Shell and partners Qatar Energy and NAMCOR are expected to announce more detail soon. The play is underpinned by a mature Aptian ‘Kudu’ shale. This is the 24th exploration well to be drilled offshore Namibia, and news of a commercial success will be welcomed by a number of operators in the Orange Basin, both in Namibia and adjacent in South Africa, as well as companies planning to drill in the Luderitz and Walvis Basins, which share a similar source rock history. To the west in deeper water, TotalEnergies (with Impact and Qatar Energy) continue to drill the Venus-1X wildcat.
Author: Ian Blakeley, NVentures