Reconnaissance Energy (ReconAfrica) Africa, a London-Based oil and gas company, is set to explore for oil in Namibia, the company said on Wednesday.
Minister of Energy and Mines Tom Alweendo also confirmed that this will be the second time the company would explore for oil at Namibia’s northern Kavango region as the exploration licence was approved for its first renewal period. The license continues until January 2022.
Meanwhile, ReconAfrica Chief Executive Officer Jay Park said in a statement the exploration and development plans are meant for the Kavango Basin and reflects its commitment to drill at least two wells during this phase.
“It also reflects the Ministry of Energy and Mines’ support for our prior and continuing work in the Kavango Basin,” Park said.
The first renewal period for the exploration license is estimated to cost roughly 143 million Namibian dollars (9.6 million U.S. dollars). Enditem
