Namibia drawing more focus from energy companies by Daniel J. Graeber Washington DC (UPI) Jun 05, 2018 OPEC-member Angola's southern neighbor, Namibia, could be a focal point with a quarter-million barrels of potential reserves, an Atlantic-focused company said. Atlantic-focused Chariot Oil & Gas Ltd. had little to show for 2017, but was upbeat about prospects in Brazil, Namibia and Morocco, though the latter has yet to yield success. In audited final results for the year ended Dec. 31, the company said it was fully funded for fourth quarter drilling at a prospect in Namibia that has 459 million barrels of prospective reserves. "We believe that we have built a strong platform for long term growth at the same time as offering near term, material value triggers," Chairman George Canjar said in a statement. African basins are gaining a reputation as emerging producers. Senegal in particular could hold more than 1.5 billion barrels of oil off its coast. Angola, to Namibia's north, is a member of the Organization of Petroleum Exporting Countries, producing around 1.5 million barrels per day on average so far in 2018. After wading into a deepwater oil prospect off the Namibian coast, Canadian-focused Calima Energy said the area was a "high-profile emerging hydrocarbon province." With Exxon Mobil and Total already showing an interest in Namibia, Calima said its shareholders now hold a more prestigious position. Chariot maintains an investment focus on Morocco, with $5.8 million spent on surveys despite a lack of discoveries. The company spent $900 million in Namibia and $600 million on Brazil, where it's focused on seven separate prospects. Chariot CEO Larry Bottomley said earlier this week excitement was building around Namibia after securing a drillship for fourth-quarter operations. "We are continuing to take every advantage of the current historic low cost drilling environment as well as maximizing any further cost synergies by cooperating with other drilling operations in Namibia," he said in a statement.
Trucks fill Chinese gaps in LNG market Washington (UPI) Jun 4, 2018 The lack of available pipeline capacity leaves the Chinese market looking at trucking to bridge the gap for liquefied natural gas deliveries, analysis finds. A report emailed from consultant group Wood Mackenzie found the Chinese market is looking at trucking to make up for the lack of pipeline coverage inland. "We expect China's gas demand to reach 9.3 trillion cubic feet this year," Miaoru Huang, a senior manager at Wood Mackenzie, said in the report. "Similar to 2017, 12 percent of de ... read more
|
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us. |