Namibia extends Sintana Energy’s petroleum exploration license in Orange Basin by one year
(WO) — Sintana Energy Inc announced a recently approved extension to Petroleum Exploration License 87 (“PEL 87”).
In December, Namibia’s Minister of Mines and Energy granted a second one-year extension to the current, first four-year Initial Exploration Period associated with PEL 87 located in Orange Basin.
The revised initial exploration period will now expire in Jan. 2024. Three additional periods totaling six years are available after the current period, with further possible extensions thereafter. The extension will be used to conduct several operations, including an extensive 3D seismic survey.
PEL 87 includes the 2,400 square kilometer Saturn turbidite complex that has been mapped by Pancontinental. This complex has similar geologic characteristics and is on-trend with TotalEnergies’ Venus oil discovery, made in February 2022.
Sintana maintains a 7.4% indirect, carried interest in PEL 87. The other working interest owners include National Petroleum Corporation of Namibia (“Namcor”) owner of 10% and Pancontinental Orange (Pty) Ltd. (“Pancontinental”) the operator and owner of a 75% interest.