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www.namcor.com.na
NAMIBIA –CURRENT DEVELOPMENTS
Roger Swart
NAMCOR (Pty) Ltd
Oil Africa 2006
Cape Town
23rd March 2006
www.namcor.com.na
Presentation outlineKudu gas to power projectOther current exploration players- Hunt Oil- BHP Billiton- Neptune Petroleum- Greendale Universal Holdings- First African Oil Corporation/Circle Oil- INA Industrija Nafte- Block 1711Conclusion
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• Water depth 170m
• Reservoir depth 4400m
• On Orange Banks
• Reservoir – interbedded with volcanic rocks
Kudu licence area
Kudu Production Licence 001
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Kudu gas field history
Discovery 1974 (Chevron/Regent/Soekor)
Exploration License award:
6 May 1993 (Shell, EA, <Texaco>)
Petroleum Field declared: 21 July 1997
Production License awarded on 31 August 2005
Tullow Oil (90%), Namcor (10%)
2 wells planned for 2007
Kudu
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Kudu – current concept
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Construction challenges
Weather swell
offshore winds
Remote location
Dynamic surf zone
Coastal fog
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Swell
Typical conditions February-March 2006, the so-called “weather window”
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Winds
Effect - Onshore terminal and power plant
Seasonal – winter
But…SW is the dominant wind direction
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Remote location
Kudu
Windhoek.
170 km to Oranjemund 800 km to Windhoek 800 km to Cape Town
Diamond coast
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Dynamic surf zone
Problem for pipe laying
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Coastal fog
Satellite image of coastal fog
Corrosion an issue
High sulphur content
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Licensed acreage at end of 2005
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Hunt Oil Company
Large sized US IndependentConverted reconnaissance licence to exploration licence on 23 August 20054 year licence in Lüderitz basinNamcor holds a 10% carried interest
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BHP Billiton
Awarded 2 exploration licences on 23 August 2005
South of Kudu licence (Southern block) and block west of Kudu licence (Northern block)
Parts of northern block overlapping with Kudu Production Area
First stratigraphic delineation of acreage in Namibia
Provides win-win solution
3D seismic campaign underway
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Neptune Petroleum
2 year exploration licence awarded 23 August 2005
Currently interpreting seismic
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Greendale Universal Holdings
Received 2 exploration licences on 27 October 2005 (17 166 km²)Blocks 1811 A&B, 2714BSeismic interpretation phase
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Circle Oil
First post-independence onshore licence (Owambo basin)
Largest acreage ever (138 963 km²)
Full exploration license on 17 November 2005
Namcor cosignatory with 10% stake
Well commitment
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INA Industrija Nafte
Croatian NOC
Exploration license on 23 November 2005
Second onshore licence to be awarded
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Block 1711
Block relinquished by Vanco
Acreage with highest potential so far
Received several applications for licence
Finalising negotiations
Local BEE participation included
Namcor to take up stake
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Conclusion
Kudu development imminent
Namibia set to join petroleum producers club
Other exciting developments