We have secured four onshore concessions in the Owambo basin and across to the Okavanga basin that have potential premier hydrocarbon system.
Our vision and differentiated approach to exploration has led us to significant success and proven Upper Cretaceous stratigraphic play that is providing our company with the needed focus for future discoveries in this zone.
OS Petro’s Namibia operations has been informed that our major application for offshore concessions 1809 has also been approved with our local partner company and we are now preparing our team of negotiators to conclude our Petroleum Services Agreement negotiations with the Namibian authorities which brings our operations concessions in Namibia to five which positions our company for greater discovery potential in the sub region.
OS Petro’s operations in Namibia’s offshore waters are focused on two concessions in the Namibi and Orange basins. Our Namibi Basin concession is in the deep waters right below the walvis ridge in Namibia and holds petroleum system that has attracted major exploration and drilling companies to the zone. OS Petro and its local Namibian partners successfully completed the negotiations of the PSA with Namcor and we are excited about being approved for block 1809 for exploration and drilling.
Our four onshore concessions in the Owambo basin has major indicators or rich potential premier hydrocarbon system and source rock that our geologist are confident contain massive deposits of commercial quantities of crude oil.