Namibia News

Global Petroleum Granted License Extension in Namibia

By Jaime Llinares Taboada

Global Petroleum Ltd. said Tuesday that it has been granted approval by the Namibian government to enter into the next license phase for Licence 94.

The AIM-listed oil-and-gas company said the government has agreed to Global’s proposal to enter into the sub-period from September 2021 until September 2022. The work commitment is to acquire and process 2,000 square kilometers of seismic data, which Global expects to fulfill via a farm-out.

Shares at 0715 GMT were up 0.01 pence, or 1.5%, at 0.70 pence.

Write to Jaime Llinares Taboada at; @JaimeLlinaresT

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