Eco Atlantic is the operator of the Cooper Licence, which covers a 5800 km2 area and holds a 32.5% participating interest in the licence. Partners include, NAMCOR, AziNam and Tullow Oil.
|Partners||Working Interest||Paying interest|
|Eco Atlantic (operator)||32.5% participating interest||Carried through drilling by Tullow|
|NAMCOR||10% participating interest||Carried|
|AziNam||32.5% participating interest||20%|
|Tullow Oil||25% - 40% participating interest||80%|
In November 2014, the Group completed the execution, processing and interpretation of a 1100 km2 3D seismic survey. Tullow Oil paid US$4.103 million towards the Eco Namibia’s share of costs whilst AziNam paid US$2.08 million towards the Eco Namibia’s share of costs.
Committed work programme:
|Water depth||<100m to 500 m+|
|Licence terms||5 years + 2 renewal terms of 2 years|
|Recent developments||1100km2 3D programme completed in November 2014|