BP and Eni’s Azule Energy Uncover Major Gas Condensate Discovery in Namibia’s Orange Basin
BP has confirmed a significant oil and gas discovery in Namibia’s Orange Basin, a frontier region that has rapidly become one of the most promising exploration zones in the world.
The UK-based energy major, through Azule Energy—its 50/50 joint venture with Italy’s Eni—validated preliminary findings from the Volans-1X exploration well, initially reported earlier this month by Rhino Resources, the project operator.
Details of the Discovery
The Volans-1X well, drilled under Petroleum Exploration License (PEL) 85, is operated by Rhino Resources with a 42.5% stake.
Azule Energy holds an equal 42.5%, while NAMCOR (Namibia’s national oil company) and Korres Investments own 10% and 5%, respectively.
According to BP, the well encountered 26 meters of gas condensate-rich reservoirs with excellent petrophysical properties and no water contact.
Early laboratory analyses of two samples indicate a high condensate-to-gas ratio and a liquid density of approximately 40° API gravity. These findings are currently undergoing further evaluation.
This marks the third major discovery in 2025 for the Azule Energy partnership, following the Capricornus-1X light oil find in Namibia and the Gajajeira-01 gas discovery in Angola.
A Hotspot for Global Energy Majors
Namibia’s offshore Orange Basin has drawn increasing attention from global energy giants. Shell, TotalEnergies, and Galp have all made notable finds in recent years—most prominently Shell’s Graff and TotalEnergies’ Venus discoveries, which have cemented the basin’s status as a key exploration hub.
Industry analysts suggest that Namibia could follow a trajectory similar to Guyana, evolving into a major oil-producing nation.
However, the country currently lacks sufficient infrastructure to rapidly commercialize its offshore resources, posing logistical and financial challenges to near-term development.
BP Refocuses on Core Oil and Gas Operations
The discovery comes as BP refines its strategic priorities. In February 2025, the company announced plans to scale back renewable investments and focus on its core oil and gas portfolio.
So far this year, BP has recorded 11 new discoveries across several regions, including the Far South find in the Gulf of Mexico and a major oil strike in Brazil’s Santos Basin—its largest in over two decades.
With this latest Namibian find, BP and its partners continue to expand their footprint across Africa’s most dynamic exploration frontier, reinforcing the country’s growing role in shaping the future of global energy supply.
