ReconAfrica finds 40 bcm of gas in Namibia
WINDHOEK, May 16, 2022 – ReconAfrica has discovered 40 bcm (1.42 tcf) of onshore gas at its assets on the Kavango basin in Namibia based on a third-party study, the Canadian Namibia-focused E&P company announced on Thursday.
Although gross potential recoverable reserves of 40 bcm of gas and 1 billion barrels of oil were appraised, Texas-based assessment company Netherland, Sewell & Associates’ best resource estimates sat at only 918 mcm (32.4 bcf) of gas and 73.5 million barrels of oil due to the high-risk nature of the plays.
The independent valuation is based on two stratigraphic wells drilled in production exploration licence PEL 73 and 450 kilometres of 2D seismic readings.
ReconAfrica has currently completed around 60% of a 600-kilometre 2D seismic survey covering 1,000 kilometres of the basin.
The E&P entity holds petroleum licences comprising around 34,400 square kilometres on the Kavango basin in the Klahari desert in northeastern Namibia.