HRT sets record straight

24 October 2013 Author  

front hrt 25 octThe Managing Director of HRT Namibia Martin Davis has rubbished the speculation that people might have cooked up the data in the Geological 2 as well as 3 D surveys it used for its drilling campaign to mislead the company. Allegations of faulty data have become rife after the completion of drilling on a third well by HRT to find economically viable oil in Namibia came up dry.

On Monday this week, Davis said that the allegation was completely false because HRT relied fully on data it had collected independently.

“We were not fed any information, and we actually made use of a Norwegian company called Polaris Group, who conducted extensive 3D surveys of the area we decided to drill,” he said.

He further explained that HRT Namibia had not at any stage considered closing shop in Namibia and that if anything the last two unsuccessful drills had given the company large amounts of valuable information it had to go back and process.

“We now have to do a complete survey following what we have discovered. In some cases it was source rock in other cases it was gas, and we will now have to use this information to map out the most probable drilling areas,” Davis said.

Both the Moosehead (third) and Murombe (second) wells drilled offshore Namibia were dry, while the Wingat (first well) held small and non-commercial volumes of oil.

The Wingat-1 well showed quantities of high-quality light crude at 32 to 42 degrees on the American Petroleum Institute (API) scale.

The main objective of the Moosehead-1 well was to test the resource potential of Barremian-aged carbonate reservoirs, expected to be equivalent to the Brazil and Angola “pre-salt” reservoirs, within a 546 km2, 4-way dip closure, mapped on 3D seismic.

The company performed extensive formation evaluation to confirm the nature and quality of the carbonate reservoir and source rock intervals, including wireline logs and sidewall core samples.

The results of the third attempt to find oil at the coast came after HRT claimed in May that they discovered non-commercial oil in a well at Walvis Basin off Namibia’s Skeleton Coast, however their second attempt also drew a blank.

When asked about international reports that HRT Brazil was facing challenges, the MD merely referred to changes in managements, and indicated that they continue to look for partners.

HRT is the operator of 10 blocks offshore Namibia, which are contained in four Petroleum licenses.

GALP Energia, with a 14% participating interest, is HRT’s partner and drilled the first three wells of the exploration campaign.
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