https://www.miningweekly.com
Exploration|Hydrocarbons|Petroleum|Technology
Exploration|Hydrocarbons|Petroleum|Technology
exploration|hydrocarbons|petroleum|technology

ExxonMobil acquires more exploration acreage off Namibian coast

25th April 2019

By: Nadine James

Features Deputy Editor

     

Font size: - +

US oil giant ExxonMobil will increase its exploration acreage in Namibia by about 28 000 km2 following the signing of an agreement with the Namibian government and State-owned National Petroleum Corporation of Namibia (Namcor) for blocks 1710 and 1810, and farm-in agreements for blocks 1711 and 1811A.

The agreement adds about seven-million net acres in four additional deepwater blocks to ExxonMobil’s portfolio.

The blocks extend from the shoreline to about 215 km offshore, in depths of up to 4 000 m.

ExxonMobil expects to begin exploration activities, including the acquisition of seismic data and analysis, at these blocks later this year.

“These agreements provide ExxonMobil with an opportunity to explore for hydrocarbons using advanced technology in the frontier Namibia basin.

“We will employ our significant upstream experience and technological expertise and work in close collaboration with Namcor in exploring these blocks,” ExxonMobil exploration and new ventures senior VP Mike Cousins said in a statement issued on Thursday. 

ExxonMobil will hold a 90% interest in blocks 1710 and 1810, with Namcor holding the remaining 10%. The US company will also assign 5% of its interest to a local Namibian company.

Similarly, it will hold an 85% stake in blocks 1711 and 1811A, with Namcor retaining a 15% interest.

ExxonMobil also holds a 40% interest in the PEL 82 licence offshore Namibia, comprising about 11 500 km2.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

John Thompson
John Thompson

John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...

VISIT SHOWROOM 
Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.095 0.132s - 108pq - 2rq
Subscribe Now