• 4 minutes What will the future hold for nations dependent on high oil prices.
  • 7 minutes Paris Is Burning Over Climate Change Taxes -- Is America Next?
  • 12 minutes OPEC Cuts Deep to Save Cartel
  • 15 minutes Venezuela continues to sink in misery
  • 35 mins End of EV Subsidies?
  • 24 mins Maersk's COO statment.
  • 6 hours Citi cuts Apple's price target
  • 7 hours Asian stocks down
  • 2 hours Japan Effectively Bans China’s Huawei, ZTE From Government Contracts, Joining U.S
  • 4 hours USGS Announces Largest Continuous Oil Assessment in Texas and New Mexico
  • 18 mins GOODBYE FOREIGN OIL DEPENDENCE!!
  • 11 hours China Builds LNG Icebreaker
  • 3 hours Oil prices may go up, but will be below $70 a barrel in FY19: Hindustan Petroleum Chairman
  • 13 hours EPA To Roll Back Carbon Rule On New Coal Plants
  • 12 hours Price Decline in Chinese Solar Panels
  • 4 hours Regular Gas dropped to $2.21 per gallon today
John Daly

John Daly

Dr. John C.K. Daly is the chief analyst for Oilprice.com, Dr. Daly received his Ph.D. in 1986 from the School of Slavonic and East European…

More Info

Will Namibia Become Another Pawn on China's Global Energy Chessboard?

Western investors can be forgiven for having the perception that China has bought Africa's energy assets lock, stock and barrel.

Last month however, a new oil frontier opened in South West Africa, which as yet represents a level playing field, with no Chinese investment as yet. Accordingly, investors should watch developments in Namibia, which earlier this month announced massive offshore oil finds.

On 6 July Namibia's Mines and Energy Minister Isak Katali announced the discovery of vast oil reserves off the southern Namibian coast in the South Atlantic.

During his ministerial briefing to Parliament Katali said, "Enigma Oil and Gas, a company owned by Chariot Oil and Gas, has identified five prospects in its northern blocks of 1811A and B. The company again has contracted Senergy GB Limited to design a first well to test one of these prospects in the Tapir area, which lies in water 2,100 meters deep. Target reservoirs range in depth from 3,900 meters to 4,800 meters and most likely reserves, in the event of success, are estimated to be nearly 500 million barrels. Enigma is currently actively seeking a deep-water rig to drill this well during the fourth quarter of this year. Enigma expects to find oil rather than gas and would develop a discovery through a floating production, storage and offloading vessel on a fast track basis with first production planned for 2015/16. Currently, Enigma holds 100 percent equity in the blocks but is seeking industry partners…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions




Oilprice - The No. 1 Source for Oil & Energy News
-->