Oil In Namibia?

[Michael Alexander]

Here;s an interesting article, Brazil helping to look for oil in the Orange River Basin.... a lot of old timers have always claimed that there was oil along our coast...

"DIE kennis en mag van 'n Brasiliaanse oliereus gaan ingespan word om Namibië se olierykdom te ontsluit.

In die verband het Enigma Oil & Gas, 'n Namibiese filiaal van die onafhanklike Britse eksplorasiemaatskappy Chariot Oil & Gas, in Mei 'n samewerkingooreenkoms met Petrobras van Brasilië onderteken.

Die ondertekening het reeds verlede maand in Brasilië plaasgevind. Verteenwoordigers van die maatskappye het die week 'n welwillendheidsbesoek aan die President van Namibië afgelê.

Tydens die besoek is mnr. Hifikepunye Pohamba oor die maatskappye se beplande soektog na olie in die Oranje-rivierbekken ingelig. Enigma Oil & Gas is die houer van 'n eksklusiewe eksplorasielisensie en tydens die bekendstelling van die nuwe vennootskap vandeesweek in Windhoek het die Minister van Myne en Energie, mnr. Errki Nghimtina, die belegging in Namibië verwelkom.

Mnr. Nghimtina was van mening dat dit verbasend is dat oliemaatskappye in die huidige internasionale ekonomiese klimaat hul weg oopsien om in Namibië se miniraalrykdom te belê.

"Die Namibiese regering neem kennis van die risiko wat aangegaan word in 'n tyd waar hulpbron georiënteerde maatskappye toegemaak of hul eksplorasie bedrywighede heeltemal laat vaar het. Ten spyte daarvan kan Petrobras met sy diepboorkennis en tegnologie die aflandige bekkens waarin olie gevind word vir Namibië ontsluit."

Die Minister was van mening dat die ekonomiese status van Namibië aansienlik sal verander indien olie in die land se grondgebied ontdek word.

"Dit sal die land in staat stel om die energie-aanvraag plaaslik aan te spreek en om met die internasionale gemeenskap handel te dryf. Daarbenewens sal heelwat nuwe werkgeleenthede geskep word wat die sosioekonomiese toestand in die land beslis gaan verbeter."

Mnr. Peter Kidney, die voorsitter van Chariot se direksie, het aangedui dat die maatskappye wat die samewerkingsooreenkoms onderteken het, nie net op olie gaan konsentreer nie. Gasneerslae is ook in die visiere van die oliekonglomeraat.

Die konglomeraat het reeds met driedimensionele opmetingswerk begin. Mnr. Kidney het aangedui dat die aanvanklike geologiese ondersoek teen 'n koste van sowat N$401 miljoen gedoen gaan word. Hy het egter nie die koste van die hele projek bekend gemaak nie."

Sorry in Afrikaans......

[Michael Alexander]

One of the local newspapers in Namibia, mentioned over the weekend, that there are currently 12 different companies doing oil exploration in Namibia.

I did a bit of research on the topic, is there oil in Namibia.... and came up with this 2008 article....

10 billion Barrels? 

"Oil in namibia confirmed by Tower Resources UK

UK oil exploration firm Tower Resources said on Friday that seismic data interpretation had confirmed the presence of giant structures which could contain 10 billion barrels of crude from three prospective areas, drumming a positive tone in Namibia's oil search efforts.


Saturday 17 May 2008                      

Tower Resources said in a regulatory statement posted on its website that 2-D seismic acquisition survey shot in September 2007 had confirmed the presence of giant structures and indicate a significant probability that these would be oil bearing.

Tower Resources said that seismic tests had confirmed the potential for 10 billion barrels of oil from three prospects at Licence 0010 offshore northern Namibia operated by Arcadia Petroleum Limited. Tower owns 15 per cent of Arcadia Petroleum Limited.

"Arcadia has calculated that on a heavily discounted basis for reservoir parameters which contribute to volume, reserve potential is of the order of 10 billion barrels in three giant prospects."

Large volumes of associated gas would also be present, the company said. "These volumes have not been further discounted for exploration risk, but the amplitude variation with offset analysis and geological modelling has been very rigorous providing significant comfort that the chance of success is favourable in terms of global success," the company said.

Tower Resources said there were plans to be finalised for next year to significantly increase seismic coverage over the three large prospects with a view to drilling a first well within the next two years. "

[Michael Alexander]

Now the Russians are here, something must be brewing....

"GAZPROM, the Russian heavyweight in gas and oil exploration, plans to scrutinise all available hydrocarbon data on Namibia to decide where they are going to kick off their search for black gold here.

"Get used to seeing our faces much more often in Windhoek," Gazprom International Chief Boris Ivanov said at a business lunch yesterday, announcing that the company will open a local office by year-end.
Ivanov said Namibia has "great potential hydrocarbon resources" and that the country holds "strategic interest" for Russia.
He was part of Russian President Dmitry Medvedev's business delegation visiting Namibia until this morning. Medvedev was the chairman of the board of Gazprom before he became president.
When The Namibian spoke to Mines and Energy Minister Erkki Nghimtina last night, the Minister could barely contain his excitement.
"I'm very confident. These guys are the experts," he said.
According to Nghimtina, it is only a question of giving all the exploration data available to Gazprom so that they can prioritise. So that they can determine that we start with this one," he said.
Nghimtina said the memorandum of understanding (MoU) signed yesterday between Gazprombank, owned by Gazprom, and the National Petroleum Corporation of Namibia (Namcor), "has opened the way to go into business".

Ivanov told the lunch meeting that Gazprom, through Gazprombank, is also very keen to get involved in the construction of an 800MW gas turbine power plant at Walvis Bay, part of the gas-to-power Kudu Gas project.
"It is quite a nice, sexy little project," Ivanov said, adding that Gazprom would like to get involved as soon as possible.
Namcor Managing Director Sam Beukes was cautiously optimistic about this development.
Gazprom's involvement must still be negotiated, he told The Namibian.
Minister Nghimtina, however, welcomed Gazprom's enthusiasm. The successful completion of Kudu will boost Namibia's power supply tremendously, he said.
Beukes also indicated that Gazprom might partner up with Namcor in some of their gas and oil exploration blocks.
He also said the Gazprombank deal could pave the way for Namcor to lay its hands on US$20 million to fight off their financial problems.
Three months ago Namcor said it needed a N$200 million injection after the company had incurred significant losses last year.
Beukes said the agreement will help Namcor access US$20 million and the Russian energy company will also assist them technically for oil and gas exploration.
"This is the beginning of setting Namcor up to strengthen its balance sheet. For now it is a MoU to explore opportunities and substantive agreements will come with time, but Gazprom wants to play a bigger role in Kudu gas field," Beukes said on the sidelines of the talks between Russia and Namibia.
Namcor has a 10 per cent share in the Kudu licence alongside Tullow Oil (70 per cent) and Itochu Corporation (20 per cent).
The Kudu natural gas deposit, some 130 km off the southern coast of Namibia, is the country's only commercial hydrocarbon deposit to date.
The deposit has proven natural gas reserves of over 40 billion cubic metres.
"Kudu is our only tangible asset for now and the Russian delegation is willing to start help us access our resources," Beukes said.
The deal was signed a day after Gazprom sealed another one worth US$2,5 billion with Nigeria's state-operated NNPC to further strengthen Russia's role in supplying natural gas to Europe.

More deals

Two other agreements – one to promote reciprocal investment protection and another to co-operate in the field of fisheries – were signed yesterday.
During yesterday's official talks Medvedev called for more trade between his country and Namibia, adding that they want to intensify their partnership with Africa.
"We should promote activisation of trade and economic ties. The first visit of the Russian president should open a qualitatively new stage in our relations," he said.
President Hifikepunye Pohamba agreed.
He said that Namibia is also keen to strengthen its co-operation with Russia and build what he termed a "durable economic partnership".
Pohamba said Namibia wants secure access for the country's products to Russia and urged Russia to lower tariffs on metal and farm goods.
Meanwhile, the Russian news agency Itar-Tass has quoted Russian presidential aide Sergei Prikhodko as saying the Russian business community has been displaying growing interest of late in entering the promising market of Namibia.
"In this connection during the visit the sides will discuss possibilities for the expansion of Russian investment participation in major projects of the Namibian economy, in particular, in the sphere of the prospecting and development of mineral deposits, hydrocarbons, electric power industry, transport and tourism," Prikhodko said.
According to him, one of the promising co-operation spheres is the energy industry, from hydropower to atomic power.
"We are ready and are even offering at the expert level co-operation programmes, so we will speak about this," the presidential aide said.
Medvedev will end his four-nation visit to Africa with a final stop in Angola today."