Namibia grants license extension for offshore exploration

The Namibian government has granted a 1-year license extension to the partners conducting exploration in the PEL 71 license area in the Walvis basin offshore Namibia, reported partner AziNam Ltd., a Hamilton, Bermuda-based exploration and production company.

The license partners have recently completed a 2,600-sq km 3D broadband seismic survey, complementing the initial 3,500-sq km 3D survey acquired in 2012.

Interpretation of this data across the whole of the northern half of the license has led to the identification of a number of structural and stratigraphic prospects, AziNam said.

The license extension will enable the partnership to carry out a detailed review of all the prospects before committing to drilling.

AziNam Managing Director David Sturt said data from the seismic surveys will enable the partners to select the optimum prospect. The companies aim to drill the first exploration well in second-half 2018.

The current working interest positions in the Central blocks are operator Chariot Oil & Gas 65%, AziNam 20%, NAMCOR 10%, and Ignitus Oil & Gas 5%.

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