Eco (Atlantic) Oil & Gas has started a 1000km 2D seismic survey on the Guy Block in the Walvis Basin, offshore Namibia.
Eco Atlantic is using PGS Geophysical to perform the Survey, which is expected to be completed by the end of the month.
Subject to Namibia's Ministry of Mines and Energy approving the company's transfer of an additional 10% working interest in the block to Azimuth Namibia, Eco Atlantic will hold a 60% working interest in the block, Azinam will hold a 30% working interest, and NAMCOR holds a 10% carried working interest.
Colin Kinley, COO, Eco Atlantic, the operator of the block, said: "The exploration work recently completed on other blocks in the region and the extensive work conducted by our team and block partners have given us an increased understanding of the structure of the basin. We are progressing well towards establishing a defined model. PGS will use its Geostreamer technology to conduct the Survey and we have contracted the same ship and crew that recently finished shooting our 3D seismic survey on our Cooper block. Once completed and processed, the additional 1000km of 2D will further define the block for us, our partners, as well as other interested parties."
The firm recently completed a 1097sq km 3D seismic survey on the Cooper block in the Walvis basin, also using PGS Geophysical, and its high-resolution GeoStreamer technology.
Eco Atlantic holds a 45% working interest in Cooper block and is fully financially carried through the processing and interpretation of the Survey.
Through a wholly owned Namibian subsidiary (Eco Namibia), Eco Atlantic currently holds three offshore petroleum license blocks covering more than 25,000sq km in the Walvis basin and one license block covering 23,000sq km, which includes both onshore and offshore areas.