BP approved to join Serica in Namibia
Serica Energy has received a green light for BP to join its Luderitz Basin exploration licence offshore Namibia.
BP has been permitted by the Minister of Minster and Energy in Namibia to join Serica in the Luderitz Basin licence 0047 with 30%;
BP is to earn its 30% equity by paying the full costs of a 3D seismic survey over up to 4,150 square kilometres in the licence area.
As a result of the assignment, Serica will be left with 55% equity, BP 30%, Namcor – the Namibian National Petroleum Corporation with 10% – and Indigenous Energy with 5% equity in the block.