EXPLORATORY DRILLING NEAR IN NORTHERN NAMIBIA

The first significant modern exploration is scheduled this fall in practically unexplored Namibia. Overseas Petroleum Investment Corp. (OPIC), Taipei, an affiliate of Chinese Petroleum Corp., plans to spud the first well in September on the 64 million acre Etosha Petroleum Co. (Pty.) Ltd. concession. The well is to be drilled in the Oponono deep basin area north of the Etosha wildlife park. Projected depth is 13,500-15,000 ft. The well, with oil as the target, will be drilled about 200 miles

July 1, 1991

3 min read

The first significant modern exploration is scheduled this fall in practically unexplored Namibia.

Overseas Petroleum Investment Corp. (OPIC), Taipei, an affiliate of Chinese Petroleum Corp., plans to spud the first well in September on the 64 million acre Etosha Petroleum Co. (Pty.) Ltd. concession.

The well is to be drilled in the Oponono deep basin area north of the Etosha wildlife park. Projected depth is 13,500-15,000 ft. The well, with oil as the target, will be drilled about 200 miles north-northeast of Walvis Bay.

A second exploratory well must be drilled on the concession by yearend 1992. The park is off-limits to exploration.

Brilund Ltd., Atlanta, which through its Etosha Petroleum subsidiary has maintained the concession since 1960, spent about $20 million before signing an agreement with OPIC, said Dr. William Schatten, Brilund president, chairman, and chief executive officer.

Brilund retains an 11% net overriding royalty interest in oil and gas production and a 5% fob royalty on minerals produced.

Brilund had drilled one well, halted at about 8,300 ft with the onset of hostilities during the country's independence movement. The rig's capacity was about 1 0,000 ft.

OPIC has spent $10.4 million the last 15 months on Vibroseis, airborne gravity, aeromagnetic, and geochemical surveys, and surface geology to identify targets.

Namibia is considered highly prospective for oil and gas because of its geology and proximity to Angola. Namibia is offering its territory, except for the Etosha Petroleum concession, for licensing under a round scheduled to end Nov. 1, 1991 (OGJ, Apr. 8, p. 85).

South Africa, which controls Walvis Bay, and Namibia, which controls the roads leading to it, hope to conclude negotiations for use of the bay by yearend 1991, Schatten said.

Namibia, a multiparty democracy, gained its independence in March 1990.

OUTSIDE ETOSHA AREA

Meanwhile, National Petroleum Corp. of Namibia (Namcor) officials said that 240 people representing more than 100 companies attended seminars in London and Houston in April to review exploration opportunities in Africa's youngest democracy.

Companies seeking licenses to explore Kudu gas area off Namibia's Atlantic coast have until Aug. 1, 1991, to submit applications.

Fewer than 10 oil and gas exploratory wells have been drilled in Namibia, and there is no production.

But Namcor and Intera ECL Petroleum Technologies-the English geological consulting company helping Namibia with the licensing round-sold 11 complete and 17 partial packages of existing well data and geophysical information by last week.