Eco Atlantic surveys Guy block offshore Namibia
- Business & Finance
Eco (Atlantic) Oil & Gas Ltd. has started a 1,000 km 2D seismic survey on the Guy block located in the Walvis Basin, offshore Namibia.
The company engaged PGS Geophysical Ltd. to perform the survey, which is expected to be completed by the end of the month.
Subject to Namibia’s Ministry of Mines and Energy approving the company’s transfer of an additional 10% working interest in the Block to Azimuth Namibia Ltd. (“Azinam”), Eco Atlantic will hold a 60% working interest in the Block, Azinam will hold a 30% working interest, and NAMCOR holds a 10% carried working interest.
“Once completed and processed, the additional 1,000 Km of 2D will further define the Block for us, our partners, as well as other interested parties.”
Colin Kinley, Chief Operating Officer of Eco Atlantic, the Operator of the Block commented: “We are pleased with the continued progress of our exploration programs for all of our licenses. The exploration work recently completed on other blocks in the region and the extensive work conducted by our team and Block partners have given us an increased understanding of the structure of the basin. We are progressing well towards establishing a defined model.
“PGS will use its Geostreamer technology to conduct the Survey and we have contracted the same ship and crew that recently finished shooting our 3D seismic survey on our Cooper block. Once completed and processed, the additional 1,000 Km of 2D will further define the Block for us, our partners, as well as other interested parties.”