Pan Continental Oil & Gas suggested that London primarily based operator Tullow Oil has spudded the Cormorant-1 exploration properly within the Walvis Basin offshore Namibia. The properly situated in PEL 37 is focusing on sources of 125mmbbls in a basin slope Cenomanian Cretaceous fan protecting 120km2. The properly is drilled by the drillship Ocean Rig Poseidon in a water depth of 545 metre and is anticipated to take 34 days to achieve its last depth.
In 2013, the Wingat-1 and Murombe-1 wells, straight south of PEL 37, confirmed prime quality Namibia is under-explored with solely seven onshore and fourteen offshore wells drilled over a coast line of some 1,300 km.
Offshore Namibia is a part of the plate tectonic conjugate of offshore Brazil, the place world-scale oil and fuel discoveries have been made lately and it lies on the West African continental margin adjoining to Angola, the place there have additionally been many main oil discoveries.
The contributors in Cormorant-1 are: Tullow Namibia (Operator) 35.00%; Pancontinental Namibia 30.00%; ONGC Videsh 30.00%; Paragon Oil & Gas 5.00%. (Source: Pancontinental – Image: Ocean Rig Poseidon offshore Tanzania/Ocean Rig)
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