New petroleum exploration licence in Namibia

Global Petroleum is to acquire block 2011A in the northern Walvis Basin offshore Namibia, taking an 85% interest in the new block as operator.

State oil company, Namcor, and a local private company, Aloe, will have carried interests of 10% and 5% respectively. The block lies immediately to the east of the company’s current licence, PEL0029, which comprises blocks 1910B and 2010A, making Global one of the largest net acreage holders in the region.