Namibia’s Orange Basin has the potential to match Brazil’s Campos Basin in both production and revenue generation, due to its geological similarities, according to Marcio Mello, Founder of Namibia Energy Corporation.
Speaking at the Namibia International Energy Conference on Thursday, Mello highlighted the potential of the Orange Basin to replicate the offshore success of Brazil, where the Campos Basin has produced significant hydrocarbons.
Drawing comparisons, Mello noted that Brazil’s Campos Basin produces significant hydrocarbons. Since 1983, the Campos Basin has produced up to around 9 billion barrels of oil equivalent. Considering the barrel price at around $80, the basin has generated total revenues of over $700 billion, with over 4,000 wells drilled. In the basin’s Marlin field alone, the top well reached over 15,000 barrels of oil per day. The Orange Basin has the same oil potential, stated Mello.
Mello believes the 27 wells drilled to date in the Orange Basin present an average production rate of around 4,000 to 6,000 barrels per day, with the production capacity set to increase as more wells are drilled.
“The reservoirs of the two basins are similar,” Mello stated, noting that both share comparable trap-seal systems, petroleum systems and reservoir formations. He explained that each features overcharged Cretaceous lacustrine and marine petroleum systems, with primary reservoirs formed by sand-rich turbidite channel systems.
The key difference, he explained, lies in the stage of development: “Campos is a mature basin with over 25 deepwater wells drilled, while Namibia’s Orange Basin is still emerging, with just 17 wells completed to date.
In terms of composition, the Orange Basin contains approximately 35% light oil, 40% condensate and 30% gas – compared to the Campos Basin’s 85% light oil, 10% condensate and 5% wet gas.
While the Orange Basin’s prospects are more gas-heavy, Mello argued this enhances its long-term economic potential. “Namibia has significant volumes of oil embedded within its gas reservoirs, offering a major opportunity for monetization,” said Mello.
