Page 15 - AfrOil Week 33 2022

AfrOil PROJECTS & COMPANIES AfrOil

Earlier in August, NGC made a final investment operations in 2026.
decision (FID) on the development of Mabo- The two offshore fields will eventually yield
queiro and Quiluma. up to 330mn cubic feet (9.35mn cubic metres)
The group intends to begin work before the per day of gas, equivalent to about 3.4bn cubic
end of this year and will then start production metres per year. ™

Eco Atlantic mobilises rig

for drilling of Gazania-1 well

SOUTH AFRICA UK-BASED Eco (Atlantic) Oil & Gas reported
on August 12 that it had mobilised the rig that it
will use to drill the Gazania-1 exploration well
at Block 2B offshore South Africa in the Orange
basin.
In a statement, Eco Atlantic said that the
Island Innovator rig, owned by Island Drilling
Co., had been released from its most recent con-
tract and was now on the move. The rig is now
due to arrive at the Gazania-1 drilling site, which
is about 25 km from Northern Cape, by the end
of September, weather permitting, it said.
The company did not say exactly when it
expected to spud the well, but it did note that
the drilling project would take about 25 days to
complete.
According to previous reports, Gazania-1
will be sunk to a depth of around 2,800 metres,
targeting a stacked pay section up-dip of a pre-
vious discovery at the AJ-1 site, within a proven
oil horizon. It will be sealed and plugged after
testing, with no equipment left behind on the
seabed afterwards.
In the event of a discovery within the main
target, Eco Atlantic and its partners have
approved an option for the drilling of a sidetrack
well at Gazania-1. The companies have said they
hope to find up to 300mn barrels of light crude
oil at the site.
Colin Kinley, Eco Atlantic’s founder and
COO, expressed optimism about the upcoming
exploration drilling campaign at Block 2B. “We The Gazania-1 well is due to be spudded by the end of September (Image: Azinam)
are excited to get underway with our drilling
campaign at Block 2B in the Orange basin off- operate offshore Namibia,” he stated. “With all
shore South Africa,” he said. “A successful out- of the recent operational success we have seen
come at the Gazania-1 well has the potential to recently in Namibia, we are excited to be one of
be transformational for Eco [Atlantic] and our the largest offshore licence holders in the region
JV partners.” and look forward to working with NAMCOR to
generate value for the benefit of all.”
JOAs signed for Namibian blocks Eco Atlantic acquired its 50% equity stake
Kinley also reported that Eco Atlantic had in and operatorship of the Block 2B project
signed joint operating agreements (JOAs) with – along with its stakes in PEL 97, PEL 98 and
National Petroleum Corp. of Namibia (NAM- PEL 99, as well as Block 3B/4B offshore South
COR) on four offshore assets in another section Africa – through its takeover of Azinam Group,
of the Orange basin – namely, PEL 97 (Cooper), which owns equity stakes in a number of blocks
PEL 98 (Sharon), PEL 99 (Guy) and PEL 100 offshore South Africa and Namibia, earlier this
(Tamar). year.
“We are also pleased to have signed JOAs Azinam is now a wholly-owned subsidiary of
with NAMCOR in relation to the PELs we Eco Atlantic. ™

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