Southern Africa represents excellent unexplored investment opportunities in oil, according to Aziza Project CEO Robert Pyke.
Pyke commented on the situation in Africa after Bloomberg issued a report about the oil boom that has spread across the continent (http://ibn.fm/EA7st). Drilling has intensified in countries from Algeria to Namibia. The recovery in crude oil prices has contributed to the continuation of the exploration process after a hiatus that lasted for years, the article said.
Rich data gathered over the last three years stands as a confirmation of Africa’s potential, Pyke commented. “The uptick in activity across the continent is very exciting. We believe Southern Africa, in particular, to represent an unexplored opportunity. This is supported by rich data gathered over the last three years.”
A U.S. Geological Survey report estimates that there could be at least 319 trillion cubic feet of gas and 41 billion barrels of oil to be discovered in sub-Saharan Africa, the Bloomberg report said.
According to the Aziza CEO, the prospects of significant finds in the region are promising, regardless of the fact that geological properties necessitate an alternative approach to exploration. “Exploration requires alternative approaches due to the geological properties across much of the region, however, the prospect of significant finds is promising,” he explained.
Through the tokenizing of oil and gas assets in the region, it will become easier for both international investors and local communities to benefit from the potential of oil money, Pyke concluded.
Previously, Pyke said that, while Namibia is widely perceived as a remote destination for oil exploration, it features excellent infrastructure like tarmac roads to key ports and road and rail access to the main refineries located in Cape Town and Johannesburg in neighboring South Africa (http://ibn.fm/28CDk).
Through pre-drilling exploration, experts have established the possibility of one 22,000-square kilometer hydrocarbon concession in Namibia reaching 1.6 billion barrels of oil equivalent.
Aziza Project, which issues asset-backed security tokens known as Aziza Coins, recently launched a Security Token Offering aimed at raising $60 million to complete a 10-well drilling program at the Namibian concession. The Aziza Coin is Ethereum blockchain ERC20 compliant, and its value is derived from the assets held by the Aziza Project.
The company owns 20 percent of Africa New Energies, which has rights to the concession and, if the drilling program is successful, could create significant economic value.
For more information, visit the company’s website at www.Aziza.io
