In This Article:
Halliburton Company HAL and Rhino Resources have marked a significant milestone by delivering the first two exploration wells on Block 2914 under Petroleum Exploration License (PEL) 85, located offshore Namibia. This achievement is particularly notable as it represents the first two wells in Namibia that have been completed using entirely in-country infrastructure, thanks to Halliburton’s newly established operational bases in Walvis Bay, Swakopmund, and Lüderitz. This achievement highlights the importance of Halliburton's collaborative approach and integrated services that led to the success of Rhino Resources as the block operator.
The partnership between Halliburton and Rhino Resources establishes a new standard for energy development in Namibia and sets an example of what’s possible when world-class technology, local collaboration and a shared long-term vision come together. The initiative strengthens Namibia’s position as a rising energy hub in Africa as the region gains significant global attention. This progress has the potential to drive economic growth and draw additional investment into the country’s expanding oil and gas sector.
Empowering Namibia Through Local Capacity and Education
More than just a technical win, the campaign reflects a broader commitment to Namibia’s future. At the onset of the project, Rhino Resources reiterated that the goal was not only to explore geological potential but also to ensure the long-term benefit of Namibians through knowledge transfer and capacity building.
A cornerstone of this effort is the Rhino-Halliburton Technology Centre, inaugurated in October 2024 at the University of Namibia’s Southern Campus. This state-of-the-art facility is dedicated to advancing geoscience education and equipping Namibian youth with the skills needed to drive the country's energy future.
An Insight Into the HAL-Rhino Drilling Deal
In 2024, Halliburton secured a contract from Rhino Resources to construct multiple deepwater integrated wells in Namibia and provide a comprehensive set of solutions for the construction of exploration and appraisal wells, in addition to testing services. In the deal, both Halliburton and Rhino Resources had placed emphasis on the importance of localization in the oil and gas industry in Namibia.
Importance of the Deal for HAL
From a financial standpoint, Halliburton’s successful execution of exploration wells in Namibia marks a strategic entry into a high-growth energy market. The development of local infrastructure and a dedicated technology center signals a long-term commitment that may generate future revenue opportunities.
