Serica Energy kicks off 3D seismic work offshore Namibia

Projects and Operations - May 3, 2012

Serica Energy has reported that the Polarcus Nadia, a 10-streamer seismic vessel under contract with Polarcus Seismic, has arrived on station at Serica’s Luderitz Basin blocks, located offshore Namibia.

The vessel arrived in Namibia after a 3,150 mile mobilisation from Tanzania and is preparing to deploy streamers for an extensive 3D seismic survey in the south eastern portion of Serica’s blocks, including 2512A, 2513A, 2513B and 2612A (part).

Rhe area to be surveyed, amounting to up to 4,150 sq km, comprises one of the largest 3D seismic surveys to be undertaken offshore Namibia.

The survey is planned to take three months to complete and is aimed at achieving three objectives including a full delineation of a large four-way dip closed structure which underlies the survey area.

The survey will also map potential pinch out prospects which are expected to been have formed in conjunction with a large channel sand feature crossing the survey area. It will also aim to demonstrate hydrocarbon potential through the presence of hydrocarbon indicators.

Serica said the cost of the survey is being met by BP (LON:BP.) which will earn a 30% interest in the licence under a farm-out agreement with Serica.

Tony Craven Walker, Serica’s chairman and interim chief executive, said: “This major offshore survey will provide much valuable pre-drill information to assist in evaluating the significant potential of the Luderitz Basin and the fact that we are commencing the survey outside the normal season demonstrates Serica’s commitment to an accelerated exploration programme.

"The presence of very large structures in the area licensed to Serica is already known and the survey will provide the necessary detail on which we can plan a drilling