88 Vitality Ltd. has turned to Polaris for the acquisition of 2D seismic information from Petroleum Exploration License 93 (PEL 93) within the Owambo Basin in Namibia.
PEL 93 covers 7,143 sq. miles (18,500 sq. kilometers) of underexplored subsurface throughout the basin, in line with 88 Vitality. 88 Vitality holds a 20 p.c working curiosity in PEL 93 with the corporate a possible of incomes as much as 45 p.c non-operated working curiosity within the license by way of an current three-stage farm-in deal.
88 Vitality mentioned in a press launch this system to be undertaken by Polaris will purchase a minimal of 124-line miles (200-line kilometers) of low-impact 2D seismic.
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After a interval of planning, public session, and acquiring crucial approvals, this system is scheduled to begin in mid-2024. The corporate mentioned that this system will think about verifying the structural closures of the ten particular person leads that had been detected via airborne geophysical strategies and partially confirmed utilizing current 2D seismic protection.
The 2D seismic program is anticipated to be accomplished within the third quarter of 2024, with processing of the info anticipated to be accomplished within the fourth quarter of 2024. Outcomes from the 2D seismic program will then be included into current historic exploration information over the acreage and used to establish doable exploration drilling places.
Monitor Exploration (Namibia) Pty Ltd. had carried out subsurface investigations on PEL 93 beginning 2018. It used varied geophysical and geochemical strategies to evaluate and validate the potential of the acreage. The strategies included airborne geophysical strategies, reprocessing of current 2D seismic protection and the measurement of methane and ethane concentrations in soil samples over interpreted structural leads, which confirms the existence of an lively petroleum system. Passive seismic anomalies noticed in the course of the investigations had been intently aligned with each interpreted structural leads and measured alkane molecules (c1-c5) concentrations in soil, 88 Vitality mentioned.
88 Vitality mentioned {that a} sequence of enormous, anticlinal buildings have been recognized onshore Owambo Basin, which may very well be equal in measurement to latest offshore discoveries. The preliminary focus was placed on the shallow Karoo Play; nonetheless, the main focus has now shifted to the substantial potential of the deeper and untested Damara Play.
The Damara Play resulted from a big fold and thrust episode, offering vital impartial targets for exploration of an equal measurement to these found offshore Namibia, the place an exploration renaissance is underway with successful fee of about 88 p.c, in line with 88 Vitality.
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