UK Independent Chariot Oil & Gas has been awarded a new deepwater licence offshore Namibia by the Ministry of Mines and Energy, essentially returning to the company acreage that it had relinquished previously.

The company’s wholly-owned subsidiary Enigma Oil & Gas Exploration has been granted a fresh licence for its existing Block 2714B in the southern area offshore Namibia, entitling it to the whole block area, including a 50% portion it relinquished when entering the first exploration phase on the block in 2010.

Chariot said that, in order to receive the new licence, it had to relinquish its holding in Block 2714B before being re-awarded the whole block, which covers an area of approximately 5,400 sq km.

Now classed as a new licence award, the block will enter a first exploration phase covering a 4-year period until 31 May, 2017.