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Monday, November 12, 2018
Namibia’s state-run oil firm, Namcor, revealed that two Joint Operating Agreements (JOA) were executed with Total and Impact Oil in Cape Town.The JOA has Total joining Impact and Namcor in deep water Block 2913B.
Block 2913B covers approximately 9,000sqkm300 km offshore Namibia in a water depth of 3,000meters.The acreage lies along the western toe of the Orange River delta, where deep marine fan sands are contained within large structural traps. While Block 2913B is located 150km west of the Kudu Gas field, recent exploration wells along the outer fringes of the Orange Basin have demonstrated that there exists a rich oil prospective zone running through the block.
In addition, the Namcor and Total partnership concluded a JOA in respect of Block 2912 also located in the Orange Basin. NAMCOR holds a 15% carried interest in the Block 2912 and Total holds the remaining interest.
Total will act as operator of both Block 2913B and Block 2912.
“We are delighted to have concluded the Joint Operating Agreements for these blocks. Total is recognized as a deep-water pioneer, so we are confident that it will lead a formidable charge in its capacity as Operator of these blocks,” Immanuel Mulunga, Managing Director of Namcor said.
“We look forward to working with each our partners as we identify the best prospects within each license area and bring them towards being drill-ready,” he added.
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