Repsol to take interest in Namibian offshore licence

Oil_Platform_offshoreIf approved, Repsol would own a working interest of 44 per cent in Namibian offshore licence 0010. (Image source: Renata)Repsol SA has announced its plan to enter the Namibian offshore licence 0010 as operator with a 44 per cent working interest

If completed, the transfer would see Repsol work alongside Arcadia, whose current 85 per cent working interest would be reduced to 41 per cent.

Repsol would also join exploration company Tower Resources at the site, who would hold on to its current 15 per cent interest.

Tower Resources, who has been investigating opportunities to increase its interests in the Namibian offshore, has confirmed that its carried interest through the first and optional second exploration wells would remain unaffected if the deal is given approval.

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