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Columbus1494on Apr 06, 2010 5:58am
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Sintez plans more work on Kunene-1
Sintez plans more work on Kunene-1Sintez plans more work on Kunene-1 and to apply for a producing license after 2 years:
https://www.rbcdaily.ru/2010/04/06/tek/469231
"Synthesis" will continue to look
License to search for oil offshore of Namibia extended
With "Synthesis" to renew the license for exploration blocks in Namibia, whose development has already resulted in claims of contractors up to $ 40 million dollars the Company may invest in the project is 70 million dollars the same amount "Synthesis" expects to receive from the project partners.
The license for exploration in block 1711 offshore Namibia expire on 31 March, it is now extended for two years, told RBC daily executive director of the group "Synthesis" Andrey Korolev. "The grounds for non-renewal was not, all obligations to the government of Namibia made" - he said.
Work "Synthesis" on the shelf of Namibia turned discontent contractors: more than a dozen companies, including oilfield Baker Hughes, consider that they owed for work already carried out 30-40 million project by a consortium of shareholders, in which the major companies in addition to "Synthesis" included Namibian Namcor, Petro SA South African and American Energulf. In January, "Sintezneftegaz Namibia Ltd.» Transferred the right to block affiliate Nakor Investments Limited. A "Synthesis" commenced bankruptcy proceedings "daughter".
Within two years, "Synthesis of plans to complete the exploration of" through "licenses, and then be able to automatically get permission to produce hydrocarbons at the site, said Mr. Korolev. According to the "Synthesis", investment in the project for four years totaled $ 150 million, in August 2008 on the block was drilled to search wells more than 5 km. At the completion of the group "moral" is ready to spend about another $ 70 million, says CEO. This money is just enough to complete the work on the first hole, but on completion of "really need twice as much." But the "Synthesis" is not the only participant in the project, the issue of fund-raising will be addressed at the Steering Committee, to be held in Moscow, said Mr. Korolev.
SERGEY ISPOLATOV