Swala Energy acquires exploration rights offshore Zambian block

offshore zambia-tom jarvis wcSwala Energy owns 81.08 per cent stake in Swala Energy (Zambia). (Image source: Tom Jarvis/Wikimedia Commons)Swala Energy (Zambia) has been offered hydrocarbon exploration rights over Block 44 by the Ministry of Energy in Zambia

The offshore Block 44 lies in the southern part of the country and covers an area of 6,000 sq km on the margins of the Karoo-aged Kariba Basin. Gravity and seismic data suggest that the basin has a thick sequence of Karoo-aged sediments and was explored by ExxonMobil in the late 1980s.

According to Swala Energy, large volume of 2D seismic data was acquired at the time but no wells were drilled and it is evident from these data that the Kariba Basin has a significant sedimentary fill with large structural traps.

During the first contract year, Swala Energy intends to reprocess and reinterpret the legacy seismic data as part of its work programme. Under the provisions of the award, the company may withdraw after each of the first two years of the contract if the work conducted does not confirm the basin’s prospectivity.

David Mestres Ridge, CEO of Swala Energy, said, “We are delighted with the offer of Block 44, which expands Swala Energy’s asset portfolio into a fiscally-stable, potential hydrocarbon region with large energy demand. We have been active in Zambia since late 2011 and regard this award as an expression of confidence in the company’s technical and financial capabilities. Our Lusaka office has worked tirelessly to secure this first entry licence into Zambia and we now await with interest the outcome of the licencing round in respect of Block 31.”

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