Namibia:Global Petroleum s subsidiary gets licence extension

Posted on : Thursday , 4th September 2014

 Global Petroleum’s wholly-owned subsidiary Jupiter Petroleum (Namibia) has received a 12-month extension on the initial exploration period of Petroleum Exploration Licence No. 29, which covers blocks 1910B and 2010A in Walvis Basin offshore Namibia

According to the firm, the initial exploration period of the licence will now be valid until December 2015.
Entering into the second period of the licence with Namibian Ministry of Mines and Energy would involve drilling a well and further interpretation work on existing seismic data, Global Petroleum added.
Jupiter Petroleum (Namibia) will remain the operator with an 85 per cent interest in the two blocks, with partners NAMCOR and Bronze Investments Pty Ltd holding 10 per cent and 5 per cent shares respectively, both as carried interests.
Peter Hill, CEO of Global Petroleum, said, “We would like to thank the Ministry of Mines and Energy in Namibia for their continued support and look forward to progressing the technical evaluation of our acreage. We remain optimistic about the potential of our Namibian blocks, given the technical differentiation between our prospects and the target drilled at Welwitschia-1A

Source : Oil review africa




Expogroup is a full service exhibition organiser with over eighteen years experience in International.Trade Exhibitions and Events. Our current portfolio includes 20 annual exhibitions from a diverse range of industries being held across the Middle East & Africa.

EXPOGROUP © 1996 - 2023 | Privacy Policy

Find us here

Subscribe Newsletter

Join our mailing list and receive latest news and advice from us in our monthly Newsletter

Yes, I would like to receive Expogroup E-newsletters

Instant Reply