Azinam readies S Africa shallow water low risk oil hunt

摘要

Azinam could unleash South Africa’s frst major oil production when it drills a shallow water well hunting a low risk prospect in the Orange Basin later this year. Azinam chief executive Daniel McKeown said yesterday: “To me it’s a special well. It has all the upside potential of a wildcat frontier well in that you can expect a very high return from it, but it doesn’t share the risk parameters of a frontier well because we’re drilling an existing discovery.” Nearly a year ago then operator Africa Energy Corp (AEC) farmed down its interest in Block 2B to Azinam and Panoro Energy in return for a carry on an exploration well.