Africazine:
Pancontinental Energy is advancing its exploration efforts in Namibia’s Orange Basin with a new feasibility study.
The company has initiated a study to enhance the quality of seismic data from its offshore licence, PEL 87. This follows the Namibian government’s extension of the licence until 22 January 2027, allowing Pancontinental to assess various processing methods for its existing seismic dataset.
Pancontinental Energy’s Seismic Data Enhancement Initiative
Pancontinental Energy is focused on improving the clarity of seismic images to better identify potential oil and gas reservoirs. The company is evaluating different processing techniques to determine which yields the clearest subsurface images. This approach aims to maximize the value of previously acquired data without the need for new seismic surveys.
Seismic surveys utilize sound waves to create detailed images of rock formations beneath the seabed. Enhanced imaging can significantly aid geologists in selecting optimal drilling locations. Pancontinental has engaged specialist geophysical contractors to process a segment of the existing dataset using various techniques.
Namibia: Key figures on seismic data processing
- Petroleum Exploration Licence (PEL) 87
- Licence extension until 22 January 2027
Context of Exploration in the Orange Basin
The Orange Basin has seen increased exploration success, bolstered by recent discoveries from operators like Shell and Azule Energy. These developments have strengthened the region’s reputation as a leading frontier oil province. Pancontinental’s efforts align with ongoing drilling campaigns by major companies, including Galp Energia and Chevron.
Additionally, Pancontinental is in discussions with potential partners interested in farming into PEL 87, although details remain confidential. Securing a farm-in partner is a critical step before the company can proceed with drilling its first exploration well.
Next Steps for Pancontinental Energy
- Complete the feasibility study on seismic data processing
- Identify and secure a farm-in partner for PEL 87
- Plan and execute the first exploration well drilling
Pancontinental Energy is positioning itself for significant exploration advancements in Namibia's promising Orange Basin.
