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The National Petroleum Corporation of Namibia (NAMCOR) has reported a notable light oil discovery at the Capricornus 1-X exploration well under Petroleum Exploration License (PEL) 85, which might be a turning point for Namibia’s expanding oil and gas sector. Operator Rhino Resources drilled the well, which is located in the Orange Basin offshore Namibia and becoming more productive, in collaboration with Azule Energy, Korres Investments, and NAMCOR.
Using the Noble Venturer drillship, the Capricornus 1-X well spudded on February 17, 2025 and by April 2 had achieved a total depth of 4,957 metres. Rhino Resources claims the well found a promising 38 metres of net hydrocarbon pay in the Lower Cretaceous target zone encouraging indications that Namibia’s offshore energy potential is not only theoretical, but very real.
The reservoir not only exhibited outstanding petrophysical characteristics but also, more importantly, no water contact was noted a major sign of a possibly clean and prolific oil zone. A wireline log and sidewall coring verified the find’s quality; a later production test indicated a surface-constrained flow rate of more than 11,000 stock tank barrels per day on a 40/64″ choke.
Classed as light crude, the oil found is about 37° API with little impurities less than 2% carbon dioxide and no hydrogen sulphide making it commercially appealing on the worldwide market.
Travis Smithard, CEO of Rhino Resources, stated, “This is a breakthrough for Rhino and our PEL 85 partners.” The Capricornus 1-X well verifies the existence of a high-quality, light oil-bearing reservoir. Given the complexities of the deepwater Orange Basin environment, this outcome reflects the accuracy, planning, and technical expertise of our team and service providers.
Operating PEL 85, Rhino Resources holds a 42.5% working interest; Azule Energy a joint venture between BP and Eni, holds the same amount. NAMCOR owns 10%, Korres Investments completes the group with 5%.
The drillship will now demobilize and the well has been temporarily capped and abandoned as is usual for exploration expeditions following the successful testing. For the stakeholders engaged, however, the labor is only starting.
NAMCOR stated in a statement, “The finding strengthens our resolve to use strategic alliances to open Namibia’s upstream potential.” “We remain focused on supporting Namibia’s vision to become a global energy player through technical innovation and local development.”
This is the second straight deepwater well Rhino Resources has successfully drilled in Namibia, hence confirming the operator’s credentials and increasing investor confidence in the hydrocarbon potential of the area.
Namibia sits at the brink of what may be a new chapter in its energy story—one where its offshore resources help propel economic development and energy security as the joint venture gets ready for post-drilling assessments and more exploration strategy planning.
At the moment, Capricornus 1-X is more than simply a well. It’s a signal, to Namibia, and to the world, that the country’s deepwater frontier is waking up.
