Eni (E) said Thursday it has confirmed early results from the Capricornus 1-X well in Namibia's Orange Basin, pointing to a notable light oil discovery with strong flow rates and quality reservoir characteristics.
Drilled between February and April, the well encountered 38 meters of net pay in the Lower Cretaceous with good reservoir quality and no water contact, the company said, adding that a production test yielded over 11,000 stock tank barrels per day of light oil with minimal gas.
The well will be temporarily plugged and abandoned, with the rig released, while fluid samples collected during the test will undergo laboratory analysis, Eni said.
The Capricornus 1-X well, located in Petroleum Exploration License 85 and operated by Rhino Resources, and co-owned by Azule Energy, Namcor, and Korres Investments, with Azule Energy jointly owned by Eni and BP (BP), each holding a 50% stake.
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