UK's Global Picks Up 2nd Namibia Licence
AIM-listed explorer Global Petroleum has been awarded a new licence offshore Namibia.
It said September 19 it has been awarded an 85% interest in Block 2011A, covering 5,798 km2 . State firm Namcor and a local private firm Aloe will have carried interests of 10% and 5% respectively. Water depth ranges from 400 to 1,500 metres.
Block 2011A is immediately to the east of Global’s current PEL0029 licence (comprising Blocks 1910B and 2010A). The combination of the two licences gives Global an aggregate of 11,608 km2 offshore northern Namibia making it one of the largest net acreage holders in the region. Exploration in the region is targeting oil, but non-associated gas is a possibility. Namibia has the undeveloped Kudu gasfield.
Tullow recently began drilling on its Cormorant prospect (Block 2012B) just 40km from Block 2011A which, according to Global, Wood Mackenzie ranked among the ‘15 most anticipated conventional wells in 2018'. Chariot's Prospect S well elsewhere in Namibia (on PEL71) is due to spud later in 4Q2018. Repsol drilled its Welwitschia-1A well on Block 2011A in 2014 but it was not a discovery. However Global believes there could be hydrocarbons and that the block has similarities to PEL0029. Last month ExxonMobil farmed into a Namibian offshore licence operated by independent AziNam (PEL44).