Operations
Namibia project
Exploration programme
The Namibian Government agreed that the commitment well initially required in the First Exploration Renewal Period could be replaced by a significant 3-D seismic programme. CGG Veritas was contracted to shoot a 1600 square kilometre 3-D seismic programme across the Delta prospect and this was completed in September 2010. A commitment to the Second Exploration Renewal Period has been made and written Ministerial approval was received in June 2011. A well is planned to be drilled in 2012 and a start date early in the second quarter is feasible. A firm location for the well can now be chosen based on detailed interpretation of the 3-D seismic. This location will be designed to be able to test as many prospective horizons as possible with the first well without taking any risks of being down-flank of any accumulations.
The Operators view, with which Tower agreed, was that the Alpha, Gamma and Delta structures collectively have the potential to contain up to 10 billion barrels of recoverable reserves. There are other, less well defined, anticlinal structures and several stratigraphic features that could also be viable prospects. Continued
