{"id":12363,"date":"2022-06-22T12:56:26","date_gmt":"2022-06-22T12:56:26","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=12363"},"modified":"2022-06-22T12:56:26","modified_gmt":"2022-06-22T12:56:26","slug":"south-africa-eco-atlantic-to-spud-the-gazania-1-well-this-september","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/south-africa-eco-atlantic-to-spud-the-gazania-1-well-this-september\/","title":{"rendered":"SOUTH AFRICA: Eco Atlantic to spud the Gazania-1 well this September"},"content":{"rendered":"<p class=\"dc\"><span class=\"dd\">Eco (Atlantic) Oil &amp; Gas <\/span><span class=\"df\">through its wholly owned subsidiary Azinam South Africa Limited <\/span><span class=\"dg\">plans to spud the Gazania-1 well, 25km offshore the Northern Cape in\u00a0South Africa\u00a0in \u00a0September 2022. The well will take approximately 25 days to drill.\u00a0<\/span><span class=\"dh\">\u00a0<\/span><\/p>\n<p class=\"dc\"><span class=\"cd\">Eco Atlantic\u00a0acquired 100% of\u00a0Azinam Group\u00a0as initially announced on\u00a010 January 2022, which increased WI in its all existing Namibian licences PELs 97, 98, 99 and 100 to 85%, and led to a new country entry with two blocks offshore in the\u00a0Orange Basin,\u00a0South Africa; a 50% WI and Operatorship in Block 2B,<\/span>\u00a0<span class=\"cc\">which contains the previous AJ-1 oil discovery with<\/span>\u00a0<span class=\"ce\">56 million barrels of oil equivalent Mean Contingent Resources<\/span>\u00a0<span class=\"cg\">of light oil, and a<\/span>\u00a0<span class=\"cb\">20% WI in Block 3B\/4B.\u00a0 Block 3B\/4B directly offsets the prolific multibillion barrels discoveries offshore\u00a0Namibia\u00a0announced earlier this year by Shell (Graff-1) and TotalEnergies (Venus-1).\u00a0<\/span><span class=\"dh\">\u00a0<\/span><\/p>\n<p class=\"dc\"><span class=\"ca\">Eco, as Operator of Block 2B is leading the JV partnership comprised of<\/span>\u00a0<span class=\"cc\">Africa Energy Corp (27.5% WI), Panoro 2B Limited, a subsidiary of Panoro Energy ASA (12.5% WI) and Crown Energy AB (10% WI)<\/span>\u00a0<span class=\"cc\">in drilling the Gazania-1 Exploration Well in Q3&#8217;22. The well is being drilled 25km offshore in 150 meters of water and will be drilled to a depth of approximately 2,800 meters to target a stacked pay section up dip of the AJ-1 discovery and in the proven oil horizon.<\/span>\u00a0<span class=\"ck\">\u00a0<\/span><span class=\"bz\">\u00a0<\/span><\/p>\n<p class=\"di\"><span class=\"bz\">As announced on\u00a03 March 2022, Eco contracted the<\/span>\u00a0<span class=\"dj\">Island Innovator rig with Island Drilling Company AS, the rig is to be mobilised from\u00a0Bergen, Norway\u00a0in the second half of July.\u00a0 The<\/span>\u00a0<span class=\"bx\">state of the art semi-submersible drilling rig was selected for its modern safe operating systems, its stationary anchoring and its system specifically engineered for the engineering requirements and depth range for this well. The well anticipated to be low pressure and low temperature based on the evaluation of all regional wells. It will be cased with three telescoped and cemented casings and will be drilled with environmentally friendly water based drilling fluids. The Company plans to seal and plug the well after the test with no remaining equipment left on the sea floor. The sea floor well area was surveyed in 2021 to confirm there are no environmental or culturally sensitive concerns.\u00a0<\/span><span class=\"bx\">\u00a0<\/span><\/p>\n<p class=\"di\"><span class=\"bx\">Eco recently met face-to-face with members of the local communities and interested organizations through both focus groups and ongoing open meeting forums, to provide information-sharing sessions, engage with them to inform on the upcoming operations and to answer any questions.<\/span><\/p>\n<p class=\"di\"><span class=\"dk\">\u00a0<\/span><\/p>\n<p class=\"di\"><span class=\"dk\">\u00a0<\/span><\/p>\n<p class=\"di\"><span class=\"dk\">\u00a0<\/span><\/p>\n<p class=\"di\"><span class=\"dl\">\u00a0<\/span><\/p>\n<p class=\"di\"><span class=\"dl\">Colin Kinley, Co-Founder and COO of\u00a0Eco Atlantic\u00a0commented:<\/span><\/p>\n<p class=\"di\"><span class=\"s\">\u00a0<\/span><\/p>\n<p class=\"dm\"><span class=\"cp\">&#8220;<\/span><span class=\"cw\">The acquisition of Azinam created an opportunity to work with the JV partners, the Government of\u00a0South Africa\u00a0and importantly the people of\u00a0South Africa\u00a0to drill this significant well in Q3 this year. We have worked diligently with our drilling team and partners to define a safe and efficient drilling strategy for Gazania, to define drilling engineering to meet world standards of environmental protection and hopefully give\u00a0South Africa\u00a0access to its own oil resources.&#8221;<\/span><\/p>\n<p class=\"dm\"><span class=\"cw\">\u00a0&#8220;We acknowledge that\u00a0South Africa&#8217;s\u00a0energy transition must be thought out from all perspectives. Although the required permits are in place at this point we thought it necessary to voluntarily meet with the regional local communities and interested parties to hear out concerns and interests. The Company met with community representatives at public information sessions and we have had, and will continue to have, face-to-face discussions in the coming weeks. We are currently on schedule to mobilize out of\u00a0Norway\u00a0in the third week of July and spud early in September. We anticipate approximately three to four weeks on site to drill the test well and then regardless of our findings we will seal off the well, ensure the site is completely restored and move off. Eco has chosen a majority of available South African services and will base its operations from\u00a0Cape Town. This is an exciting opportunity and holds the potential of establishing a new over 300 million barrels light oil resource.&#8221;<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Eco (Atlantic) Oil &amp; Gas through its wholly owned subsidiary Azinam South Africa Limited plans to spud the Gazania-1 well, 25km offshore the Northern Cape in\u00a0South Africa\u00a0in \u00a0September 2022. The &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/south-africa-eco-atlantic-to-spud-the-gazania-1-well-this-september\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":10337,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,7445,11],"tags":[8285,274,8287,9266,10256,1675],"class_list":["post-12363","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-southern-africa","category-top-news","tag-azinam","tag-block-2b","tag-eco-atlantic","tag-gazania-1","tag-island-drilling-company","tag-namibia","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/05\/SOUTH-AFRICA-AREA-2.jpg?fit=745%2C422&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-3dp","jetpack-related-posts":[{"id":12376,"url":"https:\/\/www.oilnewskenya.com\/index.php\/south-africa-eco-atlantic-acquires-additional-interest-in-block-3b-4b\/","url_meta":{"origin":12363,"position":0},"title":"SOUTH AFRICA: Eco Atlantic Acquires Additional Interest in Block 3B\/4B","author":"","date":"June 27, 2022","format":false,"excerpt":"Eco (Atlantic) Oil & Gas has signed a farm-out agreement pursuant to which its wholly-owned subsidiary, Azinam Limited,\u00a0will acquire an additional 6.25% Participating Interest in Block 3B\/4B, offshore South Africa from the Lunn Family Trust, one of the shareholders of Ricocure (Proprietary) Limited, subject to the satisfaction of customary conditions\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/11\/Africa-Oil-S.A-Portfolio.jpg?fit=400%2C275&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":11949,"url":"https:\/\/www.oilnewskenya.com\/index.php\/south-africa-eco-atlantic-signs-rig-contract-for-block-2b\/","url_meta":{"origin":12363,"position":1},"title":"SOUTH AFRICA: Eco Atlantic Signs Rig Contract for Block 2B","author":"","date":"March 3, 2022","format":false,"excerpt":"Eco (Atlantic) Oil & Gas has announced that the Joint Venture partnership of Block 2B, offshore\u00a0South Africa, has entered into a drilling contract for the Island Innovator semi-submersible rig with Island Drilling Company AS for the upcoming drilling of the Gazania-1 well.\u00a0 The Block 2B JV partners are Africa Energy,\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/05\/SOUTH-AFRICA-AREA-2.jpg?fit=745%2C422&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/05\/SOUTH-AFRICA-AREA-2.jpg?fit=745%2C422&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/05\/SOUTH-AFRICA-AREA-2.jpg?fit=745%2C422&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/05\/SOUTH-AFRICA-AREA-2.jpg?fit=745%2C422&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":12015,"url":"https:\/\/www.oilnewskenya.com\/index.php\/south-africa-eco-atlantic-completes-acquisition-of-azinam\/","url_meta":{"origin":12363,"position":2},"title":"SOUTH AFRICA: Eco Atlantic Completes Acquisition of Azinam","author":"","date":"March 11, 2022","format":false,"excerpt":"Eco (Atlantic) Oil & Gas Ltd. has confirmed that it and Azinam Group Holdings (Azinam) have completed all conditions required to be completed in order to close Eco's acquisition of Azinam save and accept for receipt of the final approval of the TSX Venture Exchange. As disclosed in the Company's\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/08\/South-AfricaTranskei-Algoa.jpg?fit=602%2C320&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/08\/South-AfricaTranskei-Algoa.jpg?fit=602%2C320&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/08\/South-AfricaTranskei-Algoa.jpg?fit=602%2C320&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":11552,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-south-africa-eco-atlantic-acquires-azinams-asset-base\/","url_meta":{"origin":12363,"position":3},"title":"Namibia\/South Africa: Eco Atlantic Acquires Azinam&#8217;s Asset Base","author":"","date":"January 10, 2022","format":false,"excerpt":"Highlights\u00a0 \u00b7\u00a0\u00a0\u00a0\u00a0Acquisition of a material offshore petroleum exploration asset base in\u00a0Namibia\u00a0and\u00a0South Africa \u00b7\u00a0\u00a0\u00a0\u00a0Consideration in the form of new common shares to Azinam Holdings Limited who will own 16.65% of the enlarged Group \u00b7\u00a0\u00a0\u00a0\u00a0The Vendor will also be issued warrants in the Company, exercisable only upon a\u00a0producible commercial discovery \u00b7\u00a0\u00a0\u00a0\u00a0The transaction\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/01\/Eco-Atlantic_Namibia-Licence-Map_July-2021-761x1024-1.png?fit=761%2C1024&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/01\/Eco-Atlantic_Namibia-Licence-Map_July-2021-761x1024-1.png?fit=761%2C1024&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/01\/Eco-Atlantic_Namibia-Licence-Map_July-2021-761x1024-1.png?fit=761%2C1024&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/01\/Eco-Atlantic_Namibia-Licence-Map_July-2021-761x1024-1.png?fit=761%2C1024&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":14344,"url":"https:\/\/www.oilnewskenya.com\/index.php\/south-africa-eco-atlantic-farms-into-20000km2-offshore-block-1-relinquishes-block-2b\/","url_meta":{"origin":12363,"position":4},"title":"SOUTH AFRICA: Eco Atlantic Farms\u00a0into 20,000km2\u00a0Offshore Block 1 Relinquishes Block 2B","author":"","date":"June 5, 2024","format":false,"excerpt":"Eco (Atlantic) Oil & Gas announces the Farm-In into Block 1\u00a0Offshore South Africa Orange Basin. Through its 100% owned subsidiary\u00a0Azinam South Africa Limited, the Company will farm-in and acquire a 75% Working Interest from\u00a0Tosaco Energy (Proprietary) Limited\u00a0and will become Operator of a new Exploration Right. Tosaco intends to transfer its\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/06\/South-Africa-Block-1.jpg?fit=472%2C472&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":12838,"url":"https:\/\/www.oilnewskenya.com\/index.php\/south-africa-offshore-gazania-1-well-disappoints\/","url_meta":{"origin":12363,"position":5},"title":"SOUTH AFRICA: Offshore Gazania-1 Well Disappoints","author":"","date":"November 21, 2022","format":false,"excerpt":"Eco Atlantic has announced that the Gazania-1 well on Block 2B, offshore South Africa, which spudded on October 10, 2022, reached target depth of 2,360m but did not show evidence of commercial hydrocarbons. The well will now be plugged and abandoned as planned.\u00a0 The well logging is currently on-going and\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/08\/SOUTH-AFRICA-AREA-2B-GAZANIA.webp?fit=745%2C422&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/08\/SOUTH-AFRICA-AREA-2B-GAZANIA.webp?fit=745%2C422&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/08\/SOUTH-AFRICA-AREA-2B-GAZANIA.webp?fit=745%2C422&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/08\/SOUTH-AFRICA-AREA-2B-GAZANIA.webp?fit=745%2C422&ssl=1&resize=700%2C400 2x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/12363","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=12363"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/12363\/revisions"}],"predecessor-version":[{"id":12364,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/12363\/revisions\/12364"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/10337"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=12363"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=12363"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=12363"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}