Halliburton Company announced it has been awarded a deep water integrated multi-well construction contract by Rhino Resources Ltd. Under this agreement, Halliburton will provide complete solutions to construct exploration and appraisal wells, along with testing services. Halliburton will also extend its country operation facilities to support all product service lines from Namibia to enhance collaboration and maximize asset value for Rhino Resources and Namibian customers. With more than a decade of exploration in Namibia, Rhino Resources holds operatorship of Block 2914A (PEL 85).

This block, located in the shallower portion of the Orange Basin, boasts significant potential. It is strategically located less than 20km from the nearest discovery and amidst multiple Namibian discoveries made over the last two years. The block's proximity to other international operators further underscores its strategic relevance.

In late 2022, Rhino conducted a 3D seismic survey that reinforced the block's potential with multiple viable plays and drillable prospects. In addition, Halliburton and Rhino Resources will uphold the emphasis on localization in Namibia's oil and gas sector, with the aim to distribute the economic advantages of Namibia's resources to the local community. As Halliburton and Rhino Resources approach operational commencement in the fourth quarter of 2024, the agreement underscores the importance of integration of global expertise with local resources to foster economic resilience and progress in Namibia's growing energy sector.