Petrobras spins Namibia bit

by on July 27, 2012 6:55 am BST

Well partner Chariot Oil & Gas confirmed the drillship Ocean Rig Poseidon had started the drilling campaign on Friday.

“We are very pleased to announce the spud of our second well in our four-five well drilling programme which will run through to the end of 2013,” said Chariot chief executive Paul Welch.

“Nimrod is the biggest prospect in our inventory and any success would be transformational for both Chariot and Namibia. We look forward to being able to update the market with the well results in due course.”

The well will is expected to take about 60 days to drill to a total depth of 3350 metres and log.

The Nimrod prospect lies in the Orange basin, about 77 kilometrs off the coast of Namibia in a water depth of 360 metres, and has been estimated to hold 4.9 billion barrels of oil.

Petrobras operates Southern Block 2714A with a  30% interest, Chariot holds a 25% stake and UK supermajor BP holds the remaining 45%.