Brazil firm HRT confident of major oil find in Namibia
WINDHOEK, Khomas (AFP) - Finding large quantities of oil in Namibia is only "a matter of time", the head of Brazilian oil firm HRT said on Thursday, playing down lacklustre initial drilling results.
The chief executive of HRT, Milton Franke, said he was confident Namibia would become the latest in a string of major Africa crude producers, despite around a dozen exploratory wells largely coming up dry.
HRT discovered some oil in a Walvis Basin well off Namibia's Skeleton Coast earlier this year but not in commercial volumes.
"HRT believes that finding oil in Namibia is a matter of time. Both basins, Walvis and Orange, have good source rocks, in the oil generation window," he said.