INDEPENDENT OIL COMPANY TULLOW BEGINS DRILLING FIRST OIUL WELL IN NAMIBIA

WINDHOEK-- Tullow Oil, an independent oil company based in Ireland with operations in several African countries, has started drilling its first exploration well in Namibia, the Cormorant-1 well, off the Namibian coast, near Walvis Bay.

Deputy Minister on Mines and Energy Kornelia Shilunga, who confirmed this during a media briefing here Wednesday, said the well would test the oil potential of Namibia, and that Namibia will be actively participating and monitoring the drilling campaign.

"Drilling and evaluating of the well is expected to take about 34 days and the Ministry will announce the drilling results upon completion," she added.

She said the government was putting place measures to discover and produce its own crude oil.

According to previous media reports, the Cormorant-1 well is being drilled by the ccean rig Poseidon, a sixth generation drillship, in 545 metres of water, to a total depth of 3,830 metres sub-sea.

Additionally, the Cormorant well has an estimated prospective recoverable resource potential of 124 million barrels of oil and if successful, will open a fairway of similar fans, potentially creating a substantial spread of resources across the Petroleum Exploration Licence (PEL) 37 area, the reports suggested.

Source: NAM NEWS NETWORK