Petroleum Africa
Find us on: 
Monday, February 3, 2014
Global Petroleum updated its activities in Africa, specifically Namibia and Juan de Nova Est Permit in the Mozambique Channel. In Namibia the company holds an 85% participating interest in PEL 29 which covers blocks 1910B and 2010A. Global’s search for a farm-out partner has progressed with the company hiring First Energy to assist in marketing the acreage.
The license, issued in December 2010, covers 11,730 sq km and is located in offshore Namibia in water depths ranging from 1,300 meters to 3,000 meters.
In the Mozambique Channel Global, through its Jupiter Petroleum subsidiary, holds a 30% interest in the Juan de Nova Est Permit. A petroleum systems review, including reprocessing of historic 2D seismic data, was completed by JV partner Wessex Exploration in 2013. Results appear to show a thick and potentially prospective stratigraphic section in deep water in both the northern and southern triangles of the block which are encouraging enough to justify renewal. Accordingly, an application by the JV partners to renew approximately 4,500 sq km or about 50% of the permit was submitted to the French authorities in August. It is anticipated that the renewal process may take several months.
Global went on to say in regards to the terms of the existing permit, there was insufficient time to convert Wessex’s beneficial interest into full legal title to the permit prior to the deadline for the permit renewal, and so Wessex is unable legally to participate in the renewal process. However, Global holds a full legal interest in the permit through Jupiter, which has therefore applied for renewal as a 100% interest holder and operator.
As well as the permit renewal application, a new JV agreement has been signed with Wessex giving Wessex the right to apply to the relevant French Authorities to take legal title to a 50% legal working interest in the permit, in the event that the renewal is successful.
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
