BP Namibia offshore farm-in confirmed

Offshore staff

LONDON – Enigma Oil & Gas Exploration has secured approval from Namibia’s Ministry of Mines and Energy for a farm-out agreement with BP in offshore block 2714A.

BP has committed to cover Enigma’s parent company, Chariot Oil and Gas, for its share of costs for the first exploration well in the block, as well as past costs incurred.

Partners in Southern block 2714A now comprise Petrobras (50%), BP (25%), and Enigma (25%).

According to Chariot, the block has 11 identified prospects, with the Nimrod structure due to be tested in the second half of this year via the Kabeljou-1 exploration well.

The partners have agreed on a well location.

2/6/2012

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