With a coastline of almost 1,600 km, offshore Namibia oil exploration has become highly attractive in recent years for Major companies.
Namibia’s attractive oil prospects and favourable fiscal incentives have attracted a wealth of oil majors including TotalEnergies, Galp, Shell, QatarEnergy, Chevron, Azule Energy and ExxonMobil.
In Namibia, Eco holds Operatorship and an 85% Working Interest in four offshore Petroleum Licences: PELs: 97, 99, and 100, representing a combined area of 22,894 km2 in the Walvis Basin. Please explore the tables to learn more about each licence.
| License Name | License No. | Block Size | Block reference | Basin | Working Interest |
|---|---|---|---|---|---|
| Cooper | PEL97 | 5,788 Km2 | Block 2012A | Walvis | Operator - 85% WI |
| Guy | PEL99 | 11,457 Km2 | Blocks 2111B & 2211A | Walvis | Operator - 85% WI |
| Tamar | PEL100 | 5,648 Km2 | Blocks 2211B & 2311A | Walvis | Operator - 85% WI |
The Cooper Block (PEL 97) is situated in shallow water (100-500m) within the Walvis Basin offshore Namibia and covers approximately 5,788 km2.
Eco Atlantic Oil & Gas is currently focused on further defining the Osprey Lead, an 882 million barrel Aptian/Albian source fed oil target within a sand filled channel system, in the cretaceous sequence, with the mature oil window located in approximately 300 m of water.
| Licence Partners | Percentage Interest |
|---|---|
| Eco Atlantic Oil & Gas (Operator) | 85% |
| NAMCOR | 10% |
| Tangi Trading Enterprise cc | 5% |
Cooper Block Summary
| Area | 5,788 km2 |
| Water depth | 100m to 500m |
| Licence terms | 5 years + 2 renewal terms of 2 years, each term extendable by one year. |
| Recent developments | 1,100 km2 3D survey completed Environmental Permits have been submitted for approval to drill the Osprey Well |
| Target | Upper Cretaceous Clastics Turbidites Aptian/Albian fan/channel Lower Cretaceous Carbonates |
The Guy Block (PEL 99) is situated in deep water (1,500-3,000 m) within the Walvis Basin offshore Namibia and covers approximately 11,457 km2.
| License Partners | Percentage Interest |
|---|---|
| Eco (Atlantic) Oil & Gas (Operator) | 85% |
| NAMCOR | 10% |
| Lotus Explorations (Pty) Ltd | 5% |
Guy Block Summary
| Area | 11,457km2 |
| Water depth | 1,500m to 3,000m depth (east side targeted) |
| Licence terms | 5 years + 2 renewal terms of 2 years, each term extendable by one year. |
| Recent developments | 1,000km 2D survey completed 870km2 of 3D survey completed in 2016 |
| Target | Basal Tertiary Clastics and Turbidites Upper Cretaceous Clastics Turbidites Lower Cretaceous Carbonates |
The Tamar Block (PEL 100) is situated in deep water (2,500-3,000 m) within the Walvis Basin offshore Namibia and covers approximately 5,648 km2.
Eco Atlantic Oil & Gas holds an 85% working interest in the Tamar Block and is the operator of the licence area. Eco is partnered with NAMCOR (10% working interest) and Moonshade Investment Ltd (5% working interest).
| License Partners | Percentage Interest |
|---|---|
| Eco Atlantic Oil & Gas (Operator) | 85% |
| NAMCOR | 10% |
| Moonshade Investment Ltd | 5% |
Tamar Block Summary
| Area | 5,648km2 |
| Water depth | 2,500m to 3,000m+ |
| Licence terms | 5 years + 2 renewal terms of 2 years, each term extendable by one year. |
| Recent developments | 1,000km 2D survey complete and interpreted |
| Target | Basal Tertiary Clastics and Turbidites Upper Cretaceous Clastics Turbidites Lower Cretaceous Carbonates |