Namibia

Namibia

Namibia Overview

Ocean surf with foamy waves. Dangerous jeep - safari through the huge sand dunes. Atlantic coast of Walvis Bay, Namibia, south of Africa. The concept of extreme and exotic tourism

The recent significant oil and gas discoveries offshore Brazil, Guyana and Ghana has further increased the industry’s attention on frontier regions in the Atlantic margin. Brazil, Guyana and Ghana are seen as analogues to the offshore Namibian basins. The Oil Majors such as Total S.A, Shell, Exxonmobil have acquired working interests in offshore Namibia. The drilling activities has increased massively:

  • Total S.A. and Impact Oil & Gas are expected to drill the Venus Prospect in Q3, 2019. Multi-billion barrel potential in ultra deep water.
  • Tullow and Enigma Oil and gas drilled Cormorant-1 exploration well in Q3 of 2018 to total depth of 3,855m and encountered thin-bedded basin-floor fan target with minor shows.
  • Chariot Oil and Gas drilled Prospect S well to a total depth of 4,165m in Q4 of 2018.
  • `AZINAM is planning a multi-well campaign over the next two years.
In addition to the above drilling campaigns, other recent activities includes:
  • 2019, ExxonMobil acquire Block 1710 & 1810. Also farm-in with NAMCOR for Block 1711 & 1811A.
  • 2019, Tullow Oil agreed to buy Calima Energy’s interest in Block 2813B, Orange basin.
  • February 2019, Impact Oil & Gas farmed in Block 2912 with Total S.A., Orange basin.
  • December 2018, Total S.A joined NAMCOR in Block 2912, Orange basin.
  • September 2018, Total farm-in to deep water Block 2913B, Orange basin, from Impact Oil & gas.
  • May 2018, Australia’s Calima energy acquires 56% WI in offshore Block 2813B, Orange basin.
  • December 2017, Pancontinental acquires 75% WI in offshore Block 2713, Orange basin.
  • November 2017, India’s ONGC Videsh Ltd acquired a 15% WI in offshore Block 2012A, Walvis basin.
  • October 2017, France’s Total acquired 70% WI in offshore Block 2913B, Orange basin.

The enormous potential of the deepwater plays offshore Namibia have become one of the industry’s latest exploration hotspots.

Namibia – licence Overview

Offshore Namibia can be described as highly prospective but underexplored frontier basin with significant current and planned activities. The Namibian Government is one of the most politically and economically stable regimes in Africa and the world. The characteristics of the offshore Namibia are in line to the strategy of Zambezi Exploration. The company’s primary aim is to acquire a substantial and highly prospective acreage position in an area of approximately 10,000km² within the deep water Orange Basin.

The main features of the target acreage in the Orange Basin:

  • Several sea floor satellite slick mapping shows active seepage of the petroleum in the Orange Basin.
  • High-volume hydrocarbon generation is proven in the Orange Basin at the giant Kudu gas field by locally over mature source rock.
  • Seismic data shows massive apron and basin floor fans with the potential for very large scale, high quality reservoirs.
  • All elements for a working petroleum system have been demonstrated through recent drilling.

Zambezi Exploration Petroleum Exploration Licence Application – Block 2712A & 2812A, Orange Basin:

Asset
License
Operator
Interest %
Status Phase
License Area
Block 2712A Pending IOC 10% Exploration 10,000km2
Block 2812A
In summary:
  • Award expected soon to Zambezi and Major IOC.
  • Zambezi Exploration has an option for up to 40% WI.
  • Low cost exploration campaign.
Taxation of Oil Production:
  • 5% – state royalty
  • 35% – corporation tax

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