Hydrocarb Energy is preparing to issue request for proposals (RFPs) to four seismic acquisition contractors to complete a 750km² dimensional seismic programme on its 21,300km² Owambo Basin concession in Namibia.
The concession, which is adjacent to the Angola border, features blocks 1714A, 1715, 1814A, and 1815A in northern Namibia.
The company will acquire seismic data to confirm 16 new structural leads identified by an aerial gravity and magnetics programme in 2013.
About 15% of Hydrocarb’s 21,300km² concession has been explored to date with new 2D seismic data.
The company will complete the environmental assessment work, which is presently underway, in early 2015 as a prerequisite to the seismic project.
Netherland, Sewell & Associates has assigned 1.1 billion barrels of unrisked potential in-place oil resources in the Oponono prospect.
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By GlobalDataUnrisked potential recoverable oil resources from the single prospect range from 46 to 295 million barrels of oil.
Hydrocarb president Chuck Dommer said: "We are moving ahead with the seismic project, and our next step is to bring in an industry partner to expand our exploration efforts in the Owambo Basin."
Hydrocarb Energy holds a 90% working interest in the Owambo Basin concession. Namcor, the Namibian National Oil Company, holds the remaining 10% stake.
Hydrocarb is targeting major under-explored oil and gas projects in several regions of the world.
The company has active exploration projects in Namibia, oil and gas production in Galveston Bay, Texas, and offers oil field services in the UAE.
