Saturday, February 26, 2011

HRT O&G to sell interest in two oil blocks offshore Namibia

HRT O&G Exploracao e Producao de Petroleo Ltd (a wholly owned subsidiary of HRT Participacoes em Petroleo SA) has announced that it may sell up to 50% of a pair of oil Blocks 2112A and 2212B in the Walvis Basin, offshore Namibia. HRT holds a 100% participating interest in the two blocks. The blocks are contiguous and span an area of 11,592 sq km (equal to 1,159,200 hectares, or 2,864,446 acres) with water depths ranging between 300 and 1,400 m. In January 2011, HRT has signed 3D seismic contract for 5,278 sq km over the blocks.

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