Nabirm Inks 3D CSEM Deal With EMGS
By Donald V. Watkins ©Copyrighted and Published on August 2, 2019
Yesterday, Electromagnetic Geoservices ASA ("EMGS") announced that it has been awarded a contract by Nabirm Global LLC (“Nabirm”) to conduct a proprietary 3D CSEM survey over Oil Block 2113A (PEL 0058) in the Walvis Basin offshore Namibia. Nabirm is a Birmingham, Alabama-based oil and gas exploration company, with an affiliate entity named Nabirm Energy Services (Pty) Ltd. operating in Windhoek, Namibia, West Africa.
Under the contract, EMGS will also provide processing, inversion and interpretation services for Nabirm after conducting the 3D CSEM survey. Subject to vessel availability and related industry factors, Nabirm’s 3D CSEM acquisition is projected to take place in the first or second quarter of 2020, with a backstop date of May 2020.
EMGS is based in Trondheim, Norway. The company is a marine electromagnetic technology market leader. EMGS operates on a worldwide basis with offices in Trondheim, Oslo, Houston, Mexico City, Rio de Janeiro and Kuala Lumpur.
EMGS CEO Bjørn Petter Lindhom announced the Nabirm contract in a company press release:
“We are very pleased with the award of this vessel of opportunity contract from Nabirm, which further strengthens our belief that we are well placed to deliver significant value to customers operating offshore Africa, and that the importance of the African market will increase going forward. We are working on developing a 2020 multi-client campaign offshore Namibia, which will allow us to deploy a vessel to the region.”
Nabirm CEO Olayinka Arowolo issued this statement on the EMGS deal:
“We are pleased to be working with EMGS on this project; it is a significant opportunity for all our stakeholders as this will be the first survey of its kind in the region. We believe that EMGS’s proprietary technology will help us de-risk our [oil and gas] prospects significantly. Risk Based Solutions Namibia will assist with obtaining the required Environmental Clearance Certificate prior to the acquisition.”
Nabirm’s headquarters in Windhoek is adjacent to Royal Dutch Shell plc, a British-Dutch oil and gas company. Nabirm’s offshore oil block asset is adjacent to oil blocks operated by Tullow Oil plc (a British company), Galp Energia SGPS, S.A. (a Portuguese company), and Exxon Mobil Corporation (a USA-based company), as depicted on the Namibian government's Hydrocarbon License Map.
Nabirm is the only privately-owned company that is engaged in oil and gas exploration in the Walvis Basin. Nabirm Energy Services’ shareholding group (i.e., two African-based shareholders and two African-Americans) has internally funded all of its exploration activities since the company was founded in August 2011.
Succeeding Against All Odds
In July 2012, the Namibian Ministry of Mines and Energy awarded Nabirm a twelve-year exploration license for Oil Block 2113A. This license has been renewed two times, with the latest renewal occurring on September 26, 2018.
China-based BGP International, Inc., one of the world’s leading geophysical service companies, completed a successful 2D seismic acquisition campaign on Oil Block 2113A in 2015. U.S.-based Parallel Geoscience Corporation processed the acquired data.
Singapore-based Remus Consulting prepared a preliminary interpretation of the 2D seismic data and identified five Leads of oil within Block 2113A. Houston, Texas-based ION Geophysics reprocessed and reinterpreted the acquired data. ION identified recoverable resources of 522 million barrels of oil and 583 billion cubic feet of methane gas within the Oil Block 2113A.
On January 16, 2015, Upstream magazine published an article about the completion of Nabirm’s 2D geotechnical program. Upstream is a UK-based trade magazine for the global oil and gas industry. The Upstream article called Nabirm a “minnow” in the oil and gas world.
Yesterday, Upstream reported Nabirm's 3D CSEM contract with EMGS, as did oil and gas publications worldwide. Against all odds, this "minnow" has succeeded in scoping, defining, and outsourcing its 3D CSEM acquisition work program for Oil Block 2113A to a world-class marine electromagnetic technology market leader.
Epic Breakthrough for Nabirm
In September of 2018, a breakthrough of epic proportions occurred for Nabirm when the company learned that Oil Block 2113A is located in the epicenter of an oil basin that contains billions of barrels of oil.
In a paradigm-shifting development at a September 2018 public oil and gas symposium in Namibia, two renowned and respected German geoscientists, Drs. Martin Neumaier and Ansgar Wanke, concluded that the predicted present-day early Aptian source rock maturity model (Bray, et al, 1998) appeared to be outdated and incorrect. They suggested that source rock maturity in the Walvis Basin is located to the east in shallower offshore precincts closer to the shore. This is the vicinity where Oil Block 2113A is located.
ExxonMobil and Canada's Eco Oil & Gas are also developing oil blocks that fall within this newly defined, highly prospective, epicenter for oil exploration.
Right Place, Right Time, Right Asset
The Neumaier and Wanke report favorably impacted Nabirm’s prospects for recoverable oil resources. It has also enhanced the company’s position in the upstream oil and gas industry.
This is a new and exciting time for Nabirm and its trailblazing shareholders. The company appears to be situated in the right place, at the right time, with the right asset.
PHOTO: Norwegian-based Electromagnetic Geoservices ASA announced that it has been awarded a contract by Nabirm Global LLC to conduct a proprietary 3D CSEM survey over Oil Block 2113A (PEL 0058) in the Walvis Basin offshore Namibia. The 3D CSEM survey is depicted in the illustration below. (Courtesy of EMGS).