Sintana Energy provides the following 2023 Review and 2024 Outlook, an update on management and a summary of incentive awards approved at the Company’s annual general meeting
"Building off of our Namibia entry in 2022, 2023 was another year of significant progress for Sintana," said Robert Bose, president and director. "The continuing emergence of Namibia’s Orange Basin and the significant progress on both our licenses and on the adjacent blocks, continue to demonstrate the size and scale of the opportunity, the unmatched quality of our portfolio and the timeliness of our entry. Multiple catalysts in the near-term position the Company and its shareholders for success in 2024," he added.
Since the basin opening Graff and Venus discoveries in February of 2022 by Shell and TotalEnergies respectively, the potential of the Orange Basin in Namibia has continued to emerge.
Officials at Namibia’s Ministry of Mines and Energy and NAMCOR, Namibia’s national oil and gas company, estimate that at least 11 bn barrels of light oil-in-place and up to 8.7 trillion cu/ft of gas-in-place have been discovered by Shell and TotalEnergies over the past 20 months.
"The numerous catalysts expected in the coming quarters will provide a number of opportunities to further assess and substantiate the multi-billion barrel potential of the Orange Basin in Namibia," said Robert Bose. "Specifically for Sintana, we look forward to the progress of drilling and other exploration activities on our blocks unveiling the quality and opportunity associated with our unmatched position in the heart of the basin," he added.
