Chariot’s Namibian prospect disappoints

Chariot Oil & Gas has announced it has ended its drilling campaign in the Prospect S permit off the coast of Namibia after it failed to find hydrocarbons.

A well was drilled to a depth of 4,165 metres in the concession, which is part of the Central Blocks licence, and target reservoirs were penetrated but were found to be water-bearing.

The news is another blow to Namibia’s hopes of developing its offshore petroleum industry following Tullow Oil’s failure to find hydrocarbons