Initial Coal Bed Methane wells to be drilled in Namibia as Instinct Energy eyes unconventional gas prize
Australia based Instinct Energy will be revealing results of its initial Coal Bed Methane (CBM) well operation in Namibia at the Unconventional Gas Aberdeen 2012 conference.
The private energy company is one of the first to venture into onshore drilling for CBM in Namibia and is confident that there is a promising opportunity for extracting gas from coal seams located in the Huab Basin near the North West coast.
Executive Chairman of Perth headquartered Instinct Energy, Ian Tchacos, will present results and findings at the event in Aberdeen on November 27 and 28. He said: “We are a frontrunner in CBM exploration being among the first to be awarded a CBM license in Namibia and our permit covers an 11,582 km² area in the Huab where we intend to undertake exploration drilling activities this summer. We firmly believe there is a growing appetite for unconventional energy and we are developing strong stakeholder relationships in the region. The conference in Aberdeen will be an excellent platform to share results and lessons learned so far.”
Instinct Energy was set up in 2010 by a board of directors with private equity funding specifically to pursue opportunities in Namibia after geologists realised the potential for coal seams to provide a much needed source of energy. The coal basins have not been previously mined due to their depths and basalt cover which has adverse cost implications in the case of coal extraction. Namibia suffers from energy security issues with around 60% of electricity being imported and it is hoped unconventional gas will help to provide a stable indigenous energy source that will enable continued economic growth.
Instinct is also exploring opportunities in the Mid Zambeze Basin and has been awarded permits in the Caprivi area.
Mr Tchacos added: “Namibia is a new frontier territory and our operation is drawing skills and expertise from contractors in Scotland, Poland and Australia. We are using existing mineral drilling equipment and employing local people where possible to support our activities.”
The second Unconventional Gas Aberdeen Conference on November 27 and 28 at Aberdeen Exhibition and Conference Centre will see global operators, governments and technology specialists gather to debate the issues around maximising recovery from shale, tight gas and CBM.
The key themes include:
· The political environment for exploration and exploitation of unconventional gas resources, focusing on the approaches taken by different governments and the lessons to be learned.
· New technology development and how these mitigate against risk.
· The evolution of exploiting the market opportunity – investment, risk management and business model development.
Visit the website www.unconventionalgasaberdeen.com to view the programme and book delegate and exhibition places.
