At a Glance
- BP deepens Africa presence with new offshore gas find in Namibia’s Orange Basin.
- Discovery strengthens BP’s high-margin oil strategy amid global energy portfolio shift.
- Namibia’s offshore boom attracts majors, but infrastructure hurdles remain.
BP Plc., has expanded its presence in Africa with a fresh oil and gas discovery offshore Namibia, deepening its commitment to conventional energy at a time when major producers are rebalancing portfolios toward profitable frontier plays.
The discovery, confirmed this week, was made at the Volans-1X exploration well in the Orange Basin, one of the most closely watched energy plays on the continent.
The project is operated under Petroleum Exploration Licence 85 (PEL85) by Rhino Resources, which holds a 42.5% working interest.
High-quality gas condensate discovery boosts BP
BP participates through Azule Energy, its 50/50 joint venture with Italy’s Eni SpA, which also owns 42.5% of the licence. The National Petroleum Corporation of Namibia (NAMCOR) holds 10%, while Korres Investments owns 5%.
Preliminary data indicate the well encountered about 26 meters of net pay in gas condensate-bearing reservoirs with strong petrophysical properties and no water contact.
Early lab tests showed a high condensate-to-gas ratio with a liquid density of around 40° API, suggesting a high-quality resource base.
The Volans-1X well marks BP’s third significant discovery of 2025, following the Capricornus-1X light oil find in Namibia and the Gajajeira-01 gas discovery in Angola.
Namibia’s promise, and its challenge
The results reinforce BP’s exploration momentum in Sub-Saharan Africa, where Namibia has rapidly become a magnet for international oil companies.
Global majors including Shell Plc, TotalEnergies SE, and Galp Energia SGPS SA have already struck major finds offshore Namibia in recent years.
Shell’s Graff and TotalEnergies’ Venus discoveries triggered what analysts describe as the country’s “energy rush,” drawing comparisons to Guyana’s offshore boom.
Yet, challenges persist. Namibia currently lacks the infrastructure and export facilities required to commercialize deepwater resources, raising questions about development costs and timelines.
BP doubles down on high-margin oil assets
For BP, a multinational oil and gas company headquartered in London, the discovery comes as part of a broader strategic reset.
Earlier this year, the company announced plans to scale back renewable investments and refocus on its core oil and gas portfolio, targeting high-margin assets in frontier and deepwater basins.
BP has now logged 11 discoveries in 2025, including one in the Gulf of Mexico and another in Brazil’s Santos Basin, its biggest find in a quarter century.
The Namibia success reinforces BP’s reputation as one of the most active explorers among Western majors, signaling renewed confidence in Africa’s offshore energy potential as global demand for oil and gas remains resilient amid the slow energy transition.
