Original article was written in german.

Found a translation ...

Samples are examined in Russia - promotion conditions are favorable

The samples, which the company Sintezneftegaz Namibia from the exploration in the block won 1711 before of Namibia coast, are examined at present in Russia. At the same time a concept is prepared there for the promotion of gas and its use. Wind-hear - after the namibische mining industry and energy Ministry at the end of signed March 2006 a contract with Sintezneftegaz Namibia to the exploration the area mentioned by oil and gas in, in July this yearly would have been confirmed the assumptions on gas reserves.

This experienced the AZ from confidential source. The occurrence should be up to ten times larger than by Kudugas before the south coast of Namibia. Also the relative to small distance the coast speaks for the profitability of a promotion.

Meanwhile one could not prove oil in the block 1711, it was said. The promoted gas can be sold either or be used for the enterprise of an energy power station. The same options are discussed for the Kudugas project that by the recent reentrance of the South African power supplier Eskom got renewed lift (AZ reported). The exploration contract with Sintezneftegaz Namibia contains an investment volume at a value of 500 million Namibia dollar and secured the exploration rights up to the year 2010. A part of the contract includes also the promotion of the fossil raw material. With the signing of the agreement Sintezneftegaz joint founder showed up and - joint owner Leonid Lebedev „confidently “that one finds in the block 1711 oil or gas. It is besides the first time that private, 1990 created enterprises with seat in Moscow outside of Russia become active. The majority portions of Sintezneftegaz Namibia the Russian enterprise of the same name, further partners holds is PetroSA (South Africa, 10%), for Energulf (Canada, 10%), the namibische petroleum company Namcor (Namibia, 7%) and a namibian BEE enterprise (3%).