Canadian explorer Africa Oil provides update on Marula-1X drilling offshore Namibia

Canadian oil and gas Africa-focused exploration company Africa Oil Corporation (Africa Oil) has received an operational update from Impact Oil & Gas following the conclusion of Impact’s third drilling campaign offshore Namibia.

On April 28, UK-based privately-owned Impact announced its completion of drilling operations on the Marula-1X exploration well in Block 2913B of Petroleum Exploration Licence 56 (PEL56), where it holds a 9.5% interest.

Africa Oil, through its 39.5% interest in Impact, has an effective interest of approximately 3.8% in Block 2913B, which contains the Venus light oil discovery by French energy supermajor TotalEnergies in Namibia’s highly prospective Orange Basin.

According to a statement by Impact, the Marula-1X well was drilled to a total measured depth (MD) of 6,460m on Block 2913B, targeting Albian-aged sandstones, within the Marula fan complex, approximately 47km south of the Venus-1X well, using the Deepsea Mira semi-submersible drilling rig.

No hydrocarbons were encountered in the Marula-1X well, Impact said, adding that no drill stem test (DST) was performed, and a comprehensive analysis of the well results was now underway.

“The initial data from the Marula-1X well confirms a disappointing outcome for the Marula prospect,” said Impact CEO Siraj Ahmed. “However, the full suite of well data acquired will be integrated into the evaluation to realise the block’s full potential.”

Block 2913 of PEL 56 is located offshore southern Namibia and spans roughly 8,215 square kilometres with water depths reaching up to 3,000 metres. Impact Oil & Gas entered the licence as operator in 2014, acquiring 2D and 3D seismic data, which defined the Venus prospect. In 2017, Impact and the Namibian national oil company NAMCOR were joined by TotalEnergies, contributing its experience in deep-water drilling to the joint venture (JV). In 2019, QatarEnergy also became a partner in the JV.

TotalEnergies now holds operatorship in Block 2913B, with a 50.5% working interest. The remaining stakes are held by QatarEnergy (30%), Impact Oil & Gas (9.5%), and NAMCOR (10%)

As of November 2024, Africa Oil expanded its shareholding in Impact to approximately 39.5%, up from 31.1%, through a series of acquisitions, as reported by NewsBase at the time.

Africa Oil’s investment in Impact is part of its strategy to become the leading independent exploration and production company in the Orange Basin offshore Namibia and South Africa. The prolific Venus oil discovery in February 2022, which could produce 250,000 barrels per day (bpd), is one of the assets that Africa Oil has exposure to through its shareholding in Impact.

Africa Oil’s president and CEO Roger Tucker said: “The farm down agreement between Impact and TotalEnergies that completed last year, provides full carry of Impact’s exploration and development costs on Blocks 2912 and 2913B through to first commercial production from these blocks. This presents us with an attractive opportunity set to test different geological plays on these blocks at no upfront cost.”

Africa Oil is a full-cycle independent upstream oil and gas company with interests offshore Nigeria, Namibia, South Africa and Equatorial Guinea. The company’s key assets include producing and development fields in deepwater Nigeria operated by industry majors. Africa Oil is listed on the Toronto Stock Exchange (TSX) and the Nasdaq Stockholm.