Swala Energy Offered Block 44 in the Republic of Zambia

Source: www.gulfoilandgas.com 5/12/2014, Location: Africa

Swala Energy Limited (Swala) is pleased to announce that its 81.08% owned subsidiary, Swala Energy (Zambia) Limited has been offered hydrocarbon exploration rights over Block 44, in the Republic of Zambia. The process now involves Swala accepting the offer, after which the licence will be formally awarded by the Ministry of Energy.

Block 44 lies in the southern part of the country and covers an area of 6,000km2 on the margins of the Karoo-aged Kariba basin. Gravity and seismic data suggest that the basin has a thick sequence of Karoo-aged sediments. The basin was explored by Mobil in the late 1980’s and a large volume of 2D seismic data was acquired at the time but no wells were drilled. It is evident from these data that the Kariba Basin has a significant sedimentary fill with large structural traps. During the first contract year Swala intends to reprocess and reinterpret the legacy seismic data as part of its work programme. Under the provisions of the award, Swala may withdraw after each of the first 2 years of the contract should the work conducted not confirm the basin’s prospectivity.

Dr. David Mestres Ridge (CEO) said "We are delighted with the offer of Block 44, which expands Swala’s asset portfolio into a fiscally-stable, potential hydrocarbon region with large energy demand. We have been active in Zambia since late 2011 and regard this award as an expression of confidence in Swala’s technical and financial capabilities. Our Lusaka office has worked tirelessly to secure this first entry licence into Zambia and we now await with interest the outcome of the licencing round in respect of Block 31.”

For more information about related Opportunities and Key Players visit West Africa Projects


Suriname >>  6/19/2021 - A consortium including Qatar Petroleum has been awarded two offshore blocks in Suriname, under Production Sharing Contracts as part of the recent Suri...
Australia >>  6/18/2021 - Baron Oil Plc, the AIM-quoted oil and gas exploration company, is pleased to announce the alignment of interests in relation to the Chuditch PSC, by w...

Canada >>  6/18/2021 - Spruce Ridge Resources Ltd. has an agreement to purchase certain mineral leases with petroleum and natural gas rights, plus oil and gas wells, pipelin...
Romania >>  6/18/2021 - On June 17, 2021 S.N.G.N. Romgaz S.A. and ExxonMobil Exploration and Production Romania Holdings Ltd. signed an Exclusivity Agreement by which the se...

Suriname >>  6/18/2021 - Staatsolie Maatschappij Suriname N.V. (Staatsolie) hereby announces that after evaluation of all received bids in the SHO Bid Round 2020/2021, the fol...
Bolivia >>  6/17/2021 - Petrobras, following up on the release disclosed on 05/28/2021, informs that its wholly-owned subsidiary Petrobras Bolivia S.A. (PEB) was notified of ...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.