With a coastline of almost 1,600 km, offshore Namibia oil exploration has become highly attractive in recent years for IOCs and oil majors.
Much of the excitement can be attributed to the Wingat-1 discovery, drilled by HRT in 2013, which encountered rich oil-bearing source rocks, recovering light and sweet crude oil. Additionally, the country’s attractive oil prospects and favourable fiscal incentives have attracted a wealth of oil majors including Tullow, Total, GALP, Shell, ONGC and ExxonMobil.
Eco’s focus in the region lies within the Walvis Basin where it currently holds four licence blocks covering 23,000 km2:
Across these four blocks, Eco has formed strong and strategic partnerships with NAMCOR, AziNam, ONGC Videsh and Spectrum Geo Ltd.