Offshore staff
LONDON– Namibia’s Minister of Mines and Energy has approved BP’s farm-in of 30% to Serica Energy’s offshore Luderitz basin license 0047.
The agreement was first announced in March. BP will cover the entire cost of a 3D seismic survey over an area of up to 4,150 sq km (1,602 sq mi) across the concession.
Participants in the block are now as follows:
| Serica Energy Namibia – operator | 55% | ||
| Exploration (Luderitz Basin) (a wholly owned subsidiary of BP) | 30% | ||
| National Petroleum Corp. of Namibia (NAMCOR) | 10% | ||
| Indigenous Energy Ltd. | 5% |
BP will also reimburse Serica a sum covering its past costs, and has an option to acquire a further 37.5% of the license by meeting the full cost of drilling and testing an exploration well to the Barremian level.
6/25/2012
