Azule Energy Inks Farm-In Deal with Rhino Resources, Underscoring the Prospectivity of the Orange Basin [Video]

International energy company Azule Energy has officially farmed-in to Namibia’s offshore Block 2914A with the signing of an agreement with exploration company Rhino Resources Namibia. The transaction marks Azule’s entry into the country as well as its first international deal. Representing the voice of the African energy sector, the African Energy Chamber (AEC) (http://www.EnergyChamber.org) stands in support of Azule Energy’s venture into the Orange Basin, recognizing the value of the transaction in unlocking the full potential of the country’s oil and gas resources. The deal is a testament to the prospectivity of the basin as well as the high level of international interest in Namibia’s offshore oil and gas opportunities.

Under the terms of the agreement, Azule Energy has secured a 42.5% interest in Block 2914A – located in PEL 85. Following the completion of the acquisition, Azule Energy plans to drill two high-impact exploration wells as part of …