Rhino Resources, the Africa-focused oil and gas company, is preparing to drill a new appraisal well at the Capricornus prospect and conduct a flow test at the Volans site offshore Namibia in the coming year, according to Chief Executive Travis Smithard, as reported by Reuters.
The appraisal well at Capricornus follows a successful preliminary test at the same prospect, where light oil flowed at more than 11,000 barrels per day, according to BP’s technical update on the region. Meanwhile, the Volans discovery, located about 15 kilometers away, has revealed a high liquid-yield gas condensate accumulation, prompting a more extensive drill stem test, as stated in Namcor’s September release.
Rhino Resources operates in Petroleum Exploration Licence 85 in Namibia’s Orange Basin in partnership with Azule Energy and the state-owned Namcor. The company is targeting a final investment decision by late 2026 or early 2027 and aims for first oil production by 2030 through a floating production, storage, and offloading unit, Reuters added.
Analysts say the planned appraisal drilling and flow testing mark a critical step from exploration to development. The results will determine how Rhino advances its Namibian assets and whether they can compete with major offshore projects in the region led by energy giants such as TotalEnergies.
