In the last years, Namibia has attracted the global oil industry attention due to the similarities of its offshore basins with two rich Brazilian basins: the Santos Basin, where the pre-salt layer discoveries can more than double the national reserves, and the Campos Basin, which is responsible for more than 80% of the national hydrocarbon production in the country.
The Namibian coast is consisted of four continental sedimentary basins – Namibe, Walvis, Lüderitz and Orange. All of them are considered frontier areas, that is to say, little-explored areas on hydrocarbon accumulations, thus with potential for large oil and natural gas accumulations.
The studies made by HRT`s specialists indicate that Namibia is a Brazil-conjugate margin in the South Atlantic since they share a common geological history. Through the acquisition of assets in the African country, the company became to be the major holder of offshore areas under concession, with 12 exploration blocks covering an extension of 68.800 km2, being the operator of 10 of them. In these assets, the consulting firm D&M estimates that the company has 6.9 billion BOE in net risked prospective resources.
The largest 3D seismic survey ever performed in the West African coast has been conducted by HRT. Such survey covers approximately 10 thousand km² in prospects previously mapped in 2D seismic. The geological and geophysical investigations have been increasing the expectations concerning the Namibia`s potential. In seven prospects mapped by the company`s specialists, they estimate 28.5 billion BOE in P(10) unrisked prospective resources.