Grand Gulf Energy Makes Strategic Offshore Leap into Namibia’s Promising Oil Basin

April 14, 2025 03:04 PM AEST | By Team Kalkine Media

Grand Gulf Energy Makes Strategic Offshore Leap into Namibia’s Promising Oil Basin — Image source: Shutterstock

Exploration Potential in Block 2312

Block 2312 lies south of PEL 82, operated by Chevron (NYSE:CVX), and spans approximately 16,800 square kilometres in water depths between 1,400 and 2,000 meters. The block has a strong data foundation, as AIM-listed Chariot (LON:CHAR) had previously conducted extensive exploration work in the area. This included a 3D seismic survey across 2,600 sq km in 2016 and analysis of legacy and newly acquired 2D data from 2015.

Chariot used a combined 6,100 sq km of seismic data to identify multiple promising structural prospects, highlighting the block’s geological potential.

Favourable Geological Setting and Neighbourhood

The region benefits from a rich geological setting. During its previous exploration, Chariot identified two oil-generating source rocks and thin-bedded sandy reservoirs containing oil while drilling Wingat-1 in 2013. The site was estimated to contain a mean prospective resource of approximately 1.1 billion barrels of oil.

Namibia’s offshore region has emerged as a global energy hotspot, drawing in exploration giants like Shell (LON:SHEL), TotalEnergies (EPA:TTE), and Chevron. Since 2022, the Orange Basin — where Walvis is located — has recorded an exploration success rate exceeding 80%, uncovering more than 11 billion barrels of oil.

Capital Injection and Strategic Advisory

To support its entry into the Namibian offshore space, Grand Gulf recently secured firm commitments to raise $700,000 via a placement to professional and sophisticated investors. The funding will be directed primarily toward further evaluating Block 2312’s potential.

Additionally, Grand Gulf has brought on Havoc Services as a technical and corporate advisor. Havoc’s subsidiary, Harmattan Energy, brings experience in the region, having previously operated PEL 90 in Namibia before its acquisition by Chevron in 2022.

This strategic expansion positions Grand Gulf Energy at the forefront of one of the most promising emerging oil frontiers globally.

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