ExxonMobil increases frontier acreage offshore Namibia

ExxonMobil has signed an agreement with the government of Namibia and the National Petroleum Corp. of Namibia (NAMCOR) for blocks 1710 and 1810, and farm-in agreements with NAMCOR for blocks 1711 and 1811A.

Offshore staff

IRVING, TexasExxonMobil has signed an agreement with the government of Namibia and the National Petroleum Corp. of Namibia (NAMCOR) for blocks 1710 and 1810, and farm-in agreements with NAMCOR for blocks 1711 and 1811A.

The blocks, which comprise about 7 million net acres (28,000 sq km), extend from the shoreline to about 135 mi (217 km) offshore Namibia in water depths up to 13,000 ft (3,962 m). The company plans to begin exploration activities in 2019, including acquisition of seismic data and analysis.

ExxonMobil will operate blocks 1710 and 1810 and hold a 90% interest; NAMCOR will hold a 10% interest. ExxonMobil said it will assign 5% of its interest to a local Namibian company.

ExxonMobil will be operator of blocks 1711 and 1811A and will hold an 85% interest. NAMCOR will retain a 15% interest.

The company also holds a 40% interest in the PEL 82 license offshore Namibia, comprising about 2.8 million gross acres (11,500 sq km).

04/24/2019

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