Sintana Energy’s offshore drilling in Namibia’s Orange Basin
By Freeman Ya Ngulu.
The Namibian Mines and Energy ministry has approved an extension to the First Renewal Exploration Period for Petroleum Exploration License 83 (“PEL 83”) for the drilling of an exploration well currently expected in late 2023.
Sintana Energy Inc President Robert Bose said that the company expects regular news apprises in the next 12 months due to the encouraging developments in the Orange Basin.
The company said it is eagerly awaiting the arrival of the Hercules rig for their first wells, scheduled for late October, with drilling expected to begin in early November.
Sintana anticipates drill core test results from these operators in the following weeks after exploration. The basin has already yielded impressive results, with nearly 11 billion barrels of original oil in place and over 9 TCF of gas.
Through its indirect investment in Custos Energy, the company maintains a 4.9% carried interest in blocks 2813A and 2814B which are operated through PEL 83. Sintana also owns indirect interests in the adjacent blocks operated through PEL 90 and PEL 87.
PEL 83 represents one of the most exciting exploration opportunities in the Orange Basin, sitting directly above Block 2913A where Shell made its Graff-1 light oil discovery, and directly to the west of the Kudu Gas Field currently being developed by BW Energy. PEL 83 is also adjacent to Block 2913B where Total made its Venus-1 discovery. Both Shell and Total have initiated further activity on their respective blocks.
Sintana ocused on exploration, particularly in Namibia’s Orange Basin, known for recent offshore discoveries. Notably, their blocks are located adjacent to those of highly active operators, Shell and Total. Shell has made multiple discoveries, including a significant 2.5 billion barrel find, while Total is investing significantly in further upstream explortion.
Sintana’s strategic partnerships and proximity to industry leaders like Chevron and Woodside position the company well for future success in this high-potential region. Sintana reported earnings results for the second quarter and six months ended 30 June 2023. For the second quarter of 2023, the company reported a net loss.