Company news in brief

Galp readies for DST on oil wells

Portuguese oil firm Galp will carry out a drill stem test (DST) next month on its Mopane 1X well offshore Namibia.

Speaking at the company’s results presentation on Monday, Galp CEO Filipe Silva said the group is tapping high-potential assets in Namibia and progressing with its “exciting exploration campaign” in the country.

“After identifying two significant light oil columns in a first well drilled in the Mopane prospects, a second well will be completed before we carry out a DST in March. This will allow us to better evaluate the size and commerciality of Mopane,” Silva said.



Deep Yellow spends millions in Namibia

Deep Yellow spent nearly N$167 million on its operations in Namibia in its past financial year.

The biggest chunk of Deep Yellow’s total spent of about 12.8 million Australian dollars (A$) was operating costs of nearly A$11.4 million, according to the company’s 2023 Sustainability Report.

The Australian miner, with Tumas as its flagship uranium project in Namibia, paid nearly N$18 million in wages and benefits locally.

The group boosted government revenue by N$493 758, while it invested N$456 466 in community projects in Namibia.

The vast majority of Deep Yellow’s procurement expenses in Namibia in its 2023 book-year was spent at local suppliers.

Deep Yellow received a mining licence for Tumas at the end of last year.