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Operations
Global Petroleum has operated in Namibia since 2010 and our principal focus is on the highly prospective and under explored Walvis Basin.
Global holds a 78% participating interest in Petroleum Exploration Licence (PEL) 0094 (Block 2011A) in the Walvis Basin, offshore NW Namibia. This covers 5,798 square kilometres in water depths ranging from 350 metres to 1550 metres. State oil company NAMCOR has a 17% carried interest and private company Aloe Investments Two Hundred and Two (PTY) Ltd has a 5% carried interest. Global also previously held PEL 0029 from 2010 until its expiry in December 2020.
78%
Participating interest
5,798km2
Licence area
2,284m
Prospective resources mmbbls
Global has submitted applications for 4 permits in the southern Adriatic.
In August 2013, the Company submitted an application, proposed work programme and budget to the Italian Ministry of Economic Development for four exploration areas offshore Italy in the Southern Adriatic. The Company’s four Application Blocks are contiguous with the Italian median lines abutting Croatia, Montenegro and Albania respectively. Eni and Novatek were awarded acreage in Montenegro in 2016, with a forecast programme in excess of $100m. These blocks are only 35km from Global’s acreage.
4
Permit applications
$100m
Eni/Novatek forecast work programme 35km from Global’s acreage
