BP Unveils Significant Oil and Gas Discovery in Namibia’s Orange Basin

BP has announced a significant oil and gas discovery in the Orange Basin, located offshore Namibia. This development underscores the growing interest from major energy companies in the region, which has seen multiple large discoveries over recent years. The exploration results were confirmed on Monday, following preliminary findings from the Volans-1X exploration well, as reported by operator Rhino Resources.

This discovery is part of Petroleum Exploration License 85 (PEL85). In this venture, BP operates through its 50/50 joint venture with Italy’s Eni, known as Azule Energy. The license is managed by Rhino Resources, which holds a working interest of 42.5%. Other stakeholders include Azule Energy with another 42.5%, NAMCOR with 10%, and Korres Investments with 5%.

According to BP, the Volans-1X well encountered 26 meters of net pay in gas condensate-bearing reservoirs. The reservoir exhibited excellent petrophysical properties, with no water contact detected. Initial laboratory analyses of two samples revealed a high condensate-to-gas ratio, with a liquid density of approximately 40° API gravity. Further evaluations of these results are ongoing.

Continuing Exploration Success in Namibia

The Volans-1X discovery adds to a series of successful finds by Azule Energy partners in 2025, which includes the Capricornus-1X light oil discovery in Namibia and the Gajajeira-01 gas discovery in Angola. Other major companies such as Shell, TotalEnergies, and Portuguese firm Galp have also made substantial discoveries in Namibian waters, significantly boosting exploration activities in the area. Shell’s Graff and TotalEnergies’ Venus finds have particularly stirred interest, positioning Namibia as a potential new hub for oil and gas exploration.

Namibia’s government is hopeful that the nation can replicate the oil success seen in Guyana. However, the country faces challenges, particularly regarding infrastructure, which complicates and increases the costs associated with developing and monetizing these discoveries.

BP’s Strategic Focus on Oil and Gas

In February 2025, BP announced a strategic shift, moving to reduce investments in renewable energy and refocusing on its core oil and gas operations. This year alone, the company has recorded 11 exploration discoveries across various basins, including significant finds like the Far South discovery in the Gulf of America and a major discovery in the Bumerangue block of Brazil’s Santos Basin. This latest discovery in Namibia further demonstrates BP’s commitment to expanding its footprint in oil and gas exploration as it navigates a changing energy landscape.

The developments in Namibia mark a pivotal moment for BP and its partners, illustrating the potential of the Orange Basin as a significant player in the global energy market.