Northern Ocean Ltd has signed a N$740 million drilling contract with Rhino Resources Namibia (Pty) Ltd to deploy its semi-submersible rig, Deepsea Mira, for exploration in Namibia’s Orange Basin.
The contract, covering approximately 112 firm days, includes drilling the Volans-1X exploration well and is scheduled to begin in mid-July 2025.
The agreement provides for one confirmed well with Rhino and another for a second, unnamed operator, with options for up to three additional wells.
The deal ensures continued offshore activity for the Mira following its previous campaign with TotalEnergies, maintaining its operational presence in Namibian waters.
Northern Ocean CEO Arne Jacobsen emphasized the strategic value of the contract, citing reduced mobilization costs, support for local workforce and services, and seamless operational continuity.
He noted that Northern Ocean and its drilling partner, Odfjell Drilling, remain the only contractors to maintain a consistent presence in Namibia’s offshore sector over the past two years.
For Rhino Resources, the Mira plays a central role in its exploration program on Petroleum Exploration Licence (PEL) 85.
The Volans-1X well follows the earlier Capricornus-1X well, drilled in early 2025, which encountered 38 meters of light oil net pay—solidifying Rhino’s standing in the increasingly high-profile Orange Basin.
Rhino CEO Travis Smithard described the Mira as an “in-country rig of opportunity with high local content,” reiterating the company’s commitment to local development and capacity-building.
Built in 2019, the Deepsea Mira is engineered for harsh, ultra-deepwater environments and is capable of drilling in water depths of up to 3,000 meters.
Its deployment aligns with Namibia’s long-term vision to transition from a frontier exploration zone to a competitive offshore oil producer by 2030.
The Volans-1X well is expected to spud between mid and late July 2025, with an estimated 55 days of drilling.
A successful result could confirm PEL 85 as a commercial cluster and accelerate Namibia’s path toward first oil.
Even in the event of a dry hole, Rhino has options for follow-up appraisal wells or testing additional prospects, demonstrating the built-in flexibility of its exploration strategy.
With strong operational support from local bases in Walvis Bay, Swakopmund, and Lüderitz, both Rhino and Northern Ocean are firmly entrenched in what is emerging as one of Africa’s most promising energy frontiers.
