Windfire acquires licence block

Canadian oil and gas explorer Windfire recently acquired a 91.5% stake in Riviera Mina, licence holders of petroleum blocks numbered 2815 and 2915. Riviera in turn, holds 76.5% in the two blocks. The remaining interest in the licence is held by the National Petroleum Corporation of Namibia (Namcor) and local Namibian partners. Local partner King Indongo and proposed director of Windfire said the transaction was another major investment in the oil and gas sector. “This transaction is expected to result in another major investment into the Namibian oil and gas sector and demonstrates the confidence that a globally respected company like Windfire and its management team has in the immense potential for discovering oil or additional gas in Namibia,” said Indongo. He said the partnership was also aimed at advancing Namibia's position on the oil and gas scene. “We will work closely with our Canadian partners not only with the goal of finding oil in Namibia, but also in striving to ensure that we contribute to the advancement of the Namibian nation,” said Indongo, adding that Windfire brought with it much-needed know-how. “Windfire brings capital expertise, leading technical experts with significant offshore discovery success, and a work programme to lead to oil development in our great country. With our international partners, Namibia is well positioned to realise its goal of energy independence,” concluded Indongo. The licence is a strategically located off-shore petroleum exploration block with extensive technical studies already concluded, including 1137 square kilometres of third dimension seismic covering a significant prospective resource, that offers a drill-ready, multiple zone, oil and gas target in the Orange Basin. The remaining stake in the oil block is owned by the Namibia Petroleum Corporation.STAFF REPORTER

Windfire acquires licence block

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Namibian Sun 2025-05-29

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Windfire acquires licence block

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Namibian Sun 2025-05-29

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