Project Profile
Value: Undisclosed
Location: Onshore Namibia
Estimate Reserves: 650 million barrels of oil
Area: 5.3 million acre
Start-up Year: -
Hydrocarb Energy operates the 5.3 million acre, four-block concession on a 51% stake along with partners Duma Energy on 39% and state player National Petroleum Corporation of Namibia (Namcor) on 10%. Hydrocarb Energy Corporation and Duma Energy estimate their Oponono prospect onshore Namibia holds P50 potential of 650 million barrels of oil. Further estimates range from P90 potential of 235 million to a P10 potential of 1.1 billion barrels of oil. The analysis by Weatherford Laboratories has also indicated significant reservoir porosity and the presence of degraded crude oil, according to the explorers. The data is based on reservoir rock outcrop studies as well as soil samples collected from the vicinity of Etosha Petroleum’s prior 5-1A well. The data suggests good lateral extent, thickness, and porosity of target reservoir facies, including the primary Huttenberg Formation carbonate reservoir objective.
Operators:
Hydrocarb Energy (Bankrupt): Operator with 90% interest
National Petroleum Corporation of Namibia (NAMCOR): 10% interest