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Friday, May 24, 2013
Even as the results from its first drilling foray offshore Namibia have just been released, HRT Participacoes em Petroleo SA is already moving on to its next spud. The company said it expects to spud on the Murombe prospect in two weeks.
HRT’s chief executive Milton Franke said during a conference call with analysts, “The Murombe prospect is only 15 kilometers from Wingat.” The drilling rig is currently enroute to the Murombe well site location.
The company just announced that its first well, the Wingat-1, did not contain oil in commercially viable volumes.
Despite the disappointing results, the Wingat prospect provided the company with important data that will aid HRT’s efforts in Namibia, “We have today a much better sample of information about Namibia than we had before, maybe we have the best set of information out of all companies in Namibia today.”
It also proved that offshore Namibia holds not only the previously discovered natural gas, but oil. “Wingat confirms the oil potential of the basin,” Franke said. “Most thought Namibia would only be a [natural] gas potential area.”
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