BP has confirmed successful results from the Volans-1X exploration well in Namibia’s Orange Basin, with 26 meters of net pay in gas condensate-bearing reservoirs. Initial lab analyses show high condensate-to-gas ratio and liquid density. Rhino Resources operates PEL85 with partners, including Azule Energy, in which BP owns 50%.

This discovery is the third major find in 2025 for Azule Energy and partners, following discoveries in Namibia and Angola. BP has had eleven exploration discoveries globally this year, strengthening its upstream momentum. The Orange Basin is becoming a key exploration area, attracting significant investment.

Namibia’s profile as a hydrocarbon province is rising, with operators investing in offshore resources. This success highlights BP’s ongoing high-impact exploration efforts and strategic growth plans in the upstream sector. The company is balancing its low-carbon transition with valuable exploration projects, including the recent success in Namibia’s Orange Basin.

Read more at Yahoo Finance: BP Strikes Gas Condensate in Namibia’s Orange Basin