Hydrocarb Energy completes second phase of Namibia exploration

Hydrocarb Energy completes survey of Namibia concessionThe survey, currently in processing, will be instrumental in determining the structural fabric of the concession. (Image source: Eric Kounce/Wikimedia Commons)Hydrocarb Energy and partner Duma Energy have completed the field acquisition phase of a 13,468km, high-resolution aerial gravity and magnetics survey over their oil and gas exploration concession in Namibia

According to Hydrocarb Energy, the survey is the first major geophysical exploration program to be carried out over its 21,200 sq km concession – consisting of blocks 1714A, 1715, 1814A and 1815A – located in Namibia’s Owambo Basin, adjacent to the Angolan border.

In addition to recently completed geologic field studies, the completion of the survey marks a major milestone in Hydrocarb Energy’s exploration program in Namibia, the company claimed.

Pasquale Scaturro, president and COO of Hydrocarb Energy, said, “Our recent field work has already proven the existence of crude oil from carbonate source. With this survey and subsequent 2D seismic program, we will be able to map those structures and traps that we believe could contain billions of barrels of potential oil reserves.”

The survey was flown by UK-based Bridgeporth in order to explore the subsurface of the virtually unexplored and high potential onshore African basin, Hydrocarb Energy said.

The company added that 85 per cent of the Owambo concession is without any modern geophysical data.

The survey, currently in processing, will be instrumental in determining the structural fabric of the concession and will assist in laying out a regional 2D seismic data program that will be acquired in 2014, Hydrocarb Energy claimed.

“The Owambo Basin has all of the ingredients to become a major new petroleum province in Africa,” Scaturro added.

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