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Maersk Drilling to work with local partners to strengthen development of local oil and gas industry

Maersk Drilling to work with local partners to strengthen development of local oil and gas industry

Maersk Drilling was recently selected by Total to drill at record water depth in a combined Angola-Namibia campaign, the drilling company announced this week.

Based on the Conditional Letter of Award previously announced in connection with Maersk Drilling’s Q3 2019 Trading Statement, Maersk Drilling was awarded contracts for a three-well exploration drilling project by Total E&P Angola Block 32, Block 48 and Total E and P Namibia B.V. for the 7th generation drillship Maersk Voyager. Maersk Voyager will be employed offshore Angola and Namibia for a campaign which includes the deepest water depth ever drilled offshore.

According to a statement the project includes two wells offshore Angola in Blocks 32 and 48, plus one well offshore Namibia.

The campaign is expected to commence in January, with an estimated duration of 240 days. The total value of the firm contracts is approximately US$46.3 million, including a mobilisation fee. The contracts include two additional one-well options.

The statement said the well in Angola’s Block 48 will be drilled at a new record water depth of 3,628 m. The current world record is 3,400 m, set by Maersk Voyager’s sister drillship Maersk Venturer when it drilled the Raya-1 well for Total offshore Uruguay in 2016.

To support the campaign in Angola and Namibia, Maersk Drilling will be working with local partners for successful outcomes and strengthen the development of the local oil and gas industry to the benefit of all parties involved, they added.

“We are thrilled to once again push beyond existing boundaries in collaboration with Total, drawing upon our mutual experience from the exciting deepwater exploration projects we have collaborated on over the years. In addition, it’s great to be heading back to Angola where we performed a series of successful operations from 2012 to 2016, and to do so in a multi-country campaign which will showcase our ability to quickly and smoothly move operations from one jurisdiction to another,” said COO Morten Kelstrup of Maersk Drilling.

Maersk Voyager is a high-spec ultra-deepwater drillship which was commissioned in 2014. It has recently performed its scheduled Special Periodic Survey in Namibia water after completing campaigns in Ghana and Equatorial Guinea in 2019.


 

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Musa Carter

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Following reverse listing, public can now acquire shareholding in Paratus Namibia

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20 February 2020, Windhoek, Namibia: Paratus Namibia Holdings (PNH) was founded as Nimbus Infrastructure Limited (“Nimbus”), Namibia’s first Capital Pool Company listed on the Namibian Stock Exchange (“NSX”).

Although targeting an initial capital raising of N$300 million, Nimbus nonetheless managed to secure funding to the value of N$98 million through its CPC listing. With a mandate to invest in ICT infrastructure in sub-Sahara Africa, it concluded management agreements with financial partner Cirrus and technology partner, Paratus Telecommunications (Pty) Ltd (“Paratus Namibia”).

Paratus Namibia Managing Director, Andrew Hall

Its first investment was placed in Paratus Namibia, a fully licensed communications operator in Namibia under regulation of the Communications Regulatory Authority of Namibia (CRAN). Nimbus has since been able to increase its capital asset base to close to N$500 million over the past two years.

In order to streamline further investment and to avoid duplicating potential ICT projects in the market between Nimbus and Paratus Namibia, it was decided to consolidate the operations.

Publishing various circulars to shareholders, Nimbus took up a 100% shareholding stake in Paratus Namibia in 2019 and proceeded to apply to have its name changed to Paratus Namibia Holdings with a consolidated board structure to ensure streamlined operations between the capital holdings and the operational arm of the business.

This transaction was approved by the Competitions Commission as well as CRAN, following all the relevant regulatory approvals as well as the necessary requirements in terms of corporate governance structures.

Paratus Namibia has evolved as a fully comprehensive communications operator in Namibia and operates as the head office of the Paratus Group in Africa. Paratus has established a pan-African footprint with operations in six African countries, being: Angola, Botswana, Mozambique, Namibia, South Africa and Zambia.

The group has achieved many successes over the years of which more recently includes the building of the Trans-Kalahari Fibre (TKF) project, which connects from the West Africa Cable System (WACS) eastward through Namibia to Botswana and onward to Johannesburg. The TKF also extends northward through Zambia to connect to Dar es Salaam in Tanzania, which made Paratus the first operator to connect the west and east coast of Africa under one Autonomous System Number (ASN).

This means that Paratus is now “exporting” internet capacity to landlocked countries such as Zambia, Botswana, the DRC with more countries to be targeted, and through its extensive African network, Paratus is well-positioned to expand the network even further into emerging ICT territories.

PNH as a fully-listed entity on the NSX, is therefore now the 100% shareholder of Paratus Namibia thereby becoming a public company. PNH is ready to invest in the future of the ICT environment in Namibia. The public is therefore invited and welcome to acquire shares in Paratus Namibia Holdings by speaking to a local stockbroker registered with the NSX. The future is bright, and the opportunities are endless.