EnerGulf in major oil find offshore Namibia

Block 1711 (Source: EnerGulf)Block 1711 (Source: EnerGulf)EnerGulf has discovered an estimated 3.16bn barrels of potentially recoverable oil offshore Namibia

Block operators, EnerGulf, released details in a report from Netherland, Sewell and Associates, which says Block 1711 offshore Namibia contains between 742mn and 6.1bn barrels. The 8,900 sq km block is being explored by a joint venture between EnerGulf, which has a 15 per cent interest, PetroSA 10 per cent, NAKOR 10 per cent, NAMCOR 7 per cent, HRT 2.7 per cent and Kunene Energy 0.3 per cent.

The group took over the block in September 2010 from previous operator, Sintezneftegaz, which had run into financial problems. The block, which is situated in the Namibe basin off the northern coast of Namibia along the international boundary with Angola, contains the Kunene-1 wildcat.

“Block 1711 contains at least five Paleocene-Eocene turbidite sand prospects and leads,” the report says. “They comprise a current mean recoverable resource estimate of more than two billion barrels.”

"Our analysis of the information obtained during the drilling of the Kunene #1 well served as a catalyst for developing several new prospects and leads, as well as a complete re-evaluation of the existing prospect portfolio," said EnerGulf Chairman and CEO, Jeff Greenblum. “We are looking forward to planning our upcoming 3-D seismic acquisition and drill programmes, and pursuing talks with prospective qualified industry co-venturers."

Alain Charles Publishing, University House, 11-13 Lower Grosvenor Place, London, SW1W 0EX, UK
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