Project Profile
Value: US$200 million
Start-up Year: 2014
Location: Licence 0010, offshore Namibia
Reserve Potential: 10 billion barrels
Area: 23,000 sq km
Water Depths: 200 to 3,000 metres
The 0010 Licence consists of three contiguous exploration Blocks (1910A, 1911 and 2011A) which cover an area of approximately 23,000 sq km offshore Namibia, in water depths ranging from 200 to 3,000 metres.
The reserve potential is around 10 billion barrels in three giant prospects. Large volumes of associated gas would also be present.
Four way dip closure has been confirmed on the Alpha structure indicating a maximum area of more than 600 square kilometres.
Operators:
Repsol: Operator with 44% interest
Arcadia Petroleum Limited: 26% interest
Tower Resources: 30% interest