Galp starts Namibia offshore seismic acquisition

A seismic survey in the PEL83 Offshore License comprising an area of about 3 000 km² in Namibia’s deep water offshore will be conducted over the next two months.

28 January 2019 | Energy

Galp, a publicly held, Portuguese-based energy company with an international presence, will start a 3D seismic campaign in Namibia’s Deepwater Offshore License PEL83 in the Orange basin on January 25.

The area is located approximately 260 km from Lüderitz in water depths of between 180 - 2 500 metres, and considered a “Frontier Exploration Basin”.

Galp media relations officer Diogo Sousa Pedro Marques Pereira said in a press release issued on January 21 that the survey, contracted to Polarcus UK Ltd., will comprise an area of around 3 000 km² and should to be completed in March.

The PEL83 license, awarded in August 2016 by the ministry of mines and energy to a Galp-led (80%) consortium which also includes the National Petroleum Corporation of Namibia (10%) and Custos Energy (10%), covers a total area of around 10 000 km².

Galp has been present in Namibia since 2012 and it currently holds two exploration licenses located in the country’s offshore.

In 2012 Galp signed a farm-in agreement in oil exploration licenses located in Namibia’s offshore.

As part of the exploratory campaign carried out in 2013, three wells were drilled - two in the Walvis basin and one in the Orange basin, although none of them resulted in a commercial discovery.

In 2016 Galp reached an agreement with the Namibian government to secure the exploration licenses in PEL 82, formerly PEL 23, in the Walvis basin, and in PEL 83, formerly PEL 28, in the Orange basin.

In 2018 Galp initiated the process of farming-down a 40% participating interest in the Petroleum Exploration License (PEL) 82 to an ExxonMobil subsidiary.

The transaction conclusion is subject to satisfaction of customary conditions precedent, including the approval of the relevant competent Namibian authorities. Following the conclusion of the transaction, both Galp and ExxonMobil will hold a 40% interest in the license and Galp will maintain the operatorship.

The concessions cover a total area of about 20 000 km² and are located in emerging provinces, where the existence of hydrocarbons has already been proved.

The company continues with the area’s geological assessment and the processing of the 2D seismic acquired in the Orange basin’s blocks.

The activities of the company, which employs 6 389 people, cover all stages of the energy sector's value chain, from prospection and extraction of oil and natural gas from reservoirs located kilometres under the sea surface, to the development of efficient and environmentally sustainable energy solutions for customers.

With a strong global expansion, Galp develops exploration and production, refining and marketing, and gas and power operations on four continents.

The company contributes to the economic development of 11 countries where it operates, as well as to the social progress of the communities.

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