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Eco Atlantic completes 3D seismic survey offshore Namibia

14/11/2014 by Sharon Shahzad


Eco (Atlantic) Oil & Gas Ltd. has completed 1,097 sq km 3D seismic work on its Cooper block in the Walvis basin offshore Namibia. PGS Geohysical Ltd. (PGS) shot the survey and is now in the processing stage.

Eco Atlantic holds a 45% working interest in the block with partners, Tullow Kudu Ltd. and AziNam Ltd., holding 25% and 20% working interest, respectively. NAMCOR holds a 10% interest.

Once drilling targets are identified for Cooper block, Tullow has the option to acquire an additional 15% working interest in exchange for a full carry of Eco Atlantic’s exploration drilling cost in addition to the repayment of 18% of Eco Atlantic’s past costs.

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