HAMILTON, Bermuda–AziNam Ltd. has received government approval for it to assume operatorship of petroleum exploration licence (PEL) 34 offshore Namibia. It has also opened an office in Namibia’s capital city of Windhoek.
In recent months, AziNam has increased its working interest position in the majority of its offshore Namibia licences. During the course of 2014, AziNam increased its working interest in PEL 34 from 20% to 40%. The government of Namibia, along with AziNam’s partners on the licenses, have now approved AziNam to become operator of PEL 34.
In addition, AziNam has opened its new office in the center of Windhoek’s business district. The office is already staffed by a team led by Uaapi Utjavari, formerly executive E&P manager at Namibian state oil company NAMCOR. The center will function as the in-country hub of the company’s commercial, technical, and operational functions.
AziNam Managing Director David Sturt said: “AziNam has the leading offshore Namibia G&G database. Combining the database with a holistic and comprehensive analysis of the potential petroleum systems offshore Namibia, AziNam has constructed the dominant acreage position in the Walvis and Luderitz basins and will continue to advance its understanding of the subsurface.”