Namibia: Walvis basin license terms extended

Jul 09, 2013 12:00 AM

Namibia’s energy ministry has approved a 1-year extension of the initial exploration period on Walvis basin Blocks 2111B, 2211A, 2213A, and 2213B offshore Namibia, said Eco (Atlantic) Oil & Gas Ltd., Toronto.

The extension allows more flexibility and time to execute the exploration program that consists of shooting 1,000 sq km of 3D seismic on each license in 2015 and drilling an exploratory well in 2016 before the first renewal period.

Meanwhile, Eco (Atlantic), AziNam Ltd., and Namibia’s state NAMCOR are preparing for a 500 sq km 3D survey on the 2012A license. They are now examining additional 2D data.

Eco (Atlantic) through its Eco Namibia subsidiary holds three Walvis basin blocks that total 6,177,000 acres and two onshore licenses that total 7,413,000 acres.

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