Russians to Drill for Oil


By Catherine Sasman


Sintezneftegaz Namibia (Pty) Ltd is to start drilling for oil along the Namibian coastline at the end of Fe-bruary, months ahead of its initial plans to start the drilling operations in October, as announced earlier.

Representative in Namibia, Dr Valentine Vladimirovich, told New Era last Friday that the drilling ship, the Deep Venture, will arrive at Walvis Bay at the beginning of February, upon which the first drilling is likely to commence within 60 days.

The entire process, he said, is estimated to cost US$100 million, which will include four supply vessels, air support, emergency units and a crew complement of more than 100.

The company expects to have a full report out by April on the findings of the drilling expedition.

Sintezneftegaz Namibia is a subsidiary company of the Russian-owned Sintez Group, which was granted an exploration licence to develop offshore and onshore oilfields in Namibia for Block 1711 in the Namibe Basin in June 2006. The area covers 8ǟ


Please enter your comment!
Please enter your name here