Petroleum Africa
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Sunday, September 2, 2018
Eco Atlantic Oil & Gas saw a one-year extension granted by Namibia’s Ministry of Mines and Energy to the First Renewal Exploration Period for all of its Namibia Licenses. The renewal bring the agreements out to March 2019. Each license will then enter the Second Renewal Period, which in turn has a two-year exploration phase which can be extended by a third year at the discretion of the Ministry.
According to the company, it continues to monitor developments in this region, specifically the results of the two wells which are scheduled to be drilled during Q3 and Q4 2018 on PEL 37 (Tullow Oil) and PEL 71 (Chariot Oil and Gas) in the Walvis Basin.
The results of these wells are expected to add a significant amount of information to the overall understanding of the petroleum systems in the Basin, including the blocks held by the company.
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