(Adds company reaction)
WINDHOEK, Feb 17 (Reuters) - Royal Dutch Shell
Shell has taken over exploration blocks 2913A and 2914B in the Orange Basin from Signet Petroleum, with the Anglo-Dutch group acquiring a 90 percent stake in the two blocks and Namibian national oil company Namcor keeping its 10 percent carried interest.
Signet Petroleum's 42 percent shareholder Polo Resources
Polo gave no indication of how much the interest had been sold for except to say that it expected a "significant return" for Polo, which would provide additional details as they become available. (
Best known for its uranium reserves, Namibia is attracting interest from oil and gas companies keen to explore its offshore potential, which has been likened to Brazil's Santos basin.
"The Ministry of Mines and Energy is very excited about the interest shown by a super-major such as Shell Exploration and Production in Namibia," Mines and Energy Minister Isak Katali said in a statement on Monday.
A spokeswoman at Royal Dutch Shell in South Africa declined to comment immediately, saying the company was still formulating a response.
Shell was involved in exploration work around the Kudu gas field in the Orange Basin, the only economically feasible fossil fuel find made so far in Namibian waters, but dropped out in 2002.
Spanish company Repsol
(Reporting by Servaas van den Bosch; editing by Greg Mahlich and Jason Neely)
((tosin.sulaiman@thomsonreuters.com)(+27 11 775 3153)(Reuters Messaging: tosin.sulaiman.thomsonreuters.com@thomsonreuters.net))
Keywords: NAMIBIA SHELL/




















