E&P

Sintana has acquired 44% interest in Maravilla Oil and Gas.

One of Africa’s most active emerging energy frontiers, Namibia’s Walvis Basin is a prospective exploration site for operators both major and small

The image of West Africa conjures, for operators, major high-impact exploration opportunities. Keen on securing interests in the region, Sintana Energy has strategically expanded its offshore footprint by acquiring a significant stake in Maravilla Oil and Gas. International reach besides, the acquisition will also strengthen Sintana's on-ground presence as it pledges local community development in Namibia’s Erongo Region. It will give the company a technical edge through regional synergies with existing acreage. The company will leverage the acquisition to capitalise on upcoming multi-operator offshore drilling campaigns and region-wide exploration milestones.

Sintana Energy has announced the acquisition of a 44% interest in a privately held Namibian company called Maravilla Oil and Gas that is focused on high-impact opportunities in West Africa 

This opens up for Sintana Energy several doors across Namibia's frontier acreages as Maravilla continues to expand regionally. Maravilla already owns 80% controlling shareholding in Namibian private company, Paragon, which in turn owns a 100% operated interest in Petroleum Exploration License 37 (PEL 37) located in the Walvis Basin offshore Namibia. Sintana's investment in Maravilla provides an indirect 35% interest in PEL 37.

Exploration on PEL 37

With this acquisition, Maravilla will get increased support from Sintana in resources development, as they collaborate to mature and refine opportunities including an inventory of prospects on PEL 37. Spread across an area of 17,295 sq km in relatively shallow waters (100 - 1,500m), with identified prospects at water depths between 300 and 600m, and with multiple large fans directly overlying a proven, mature oil-prone Aptian source rock. 

The license comes with an extensive technical database already in place, including 2,813 sq km (2014) of 3D seismic data, ~1,000 line kms of 2D seismic data (2014), and historical drilling activity (Cormorant-1 (2018), Sasoil (1995)).

Sintana also holds a 10% indirect interest in PEL 82, which lies north of PEL 37, and is operated by an affiliate of Chevron Corporation. PEL 82 is approximately 70% covered in 3D seismic and is home to the Murumbe-1 and Wingat-1 wells that had previously revealed light oil prospects. This geographic and technical setting of the two licenses will be mutually benefitial in future drilling outcomes and read through implications.

They will also focus on identifying and evaluating capital-efficient, high-impact opportunities in West Africa more broadly.

Chevron is gearing up for a busy year exploration-wise, with an inaugural exploration well expected in 2027. PEL 82 besides, in April 2026, Eco (Atlantic) Oil & Gas Ltd announced the farm down of interests in three of its licences in the Walvis Basin (adjacent to PEL 82 and PEL 37) to bp PLC, and is expecting to conduct significant activities on these licences over the coming 12-24 months. This includes seismic acquisition, reprocessing and potential exploration well decisions.

In conjunction with Sintana's investment, Maravilla will make a Namibian $1mm donation to the communities in the Erongo Region to be distributed in co-ordination with the Office of the Governor, Natalia IGoagoses and the Knowledge Foundation, led by Knowledge Katti.

Cost-effective exposure to high-impact exploration

Robert Bose, CEO of Sintana, said, "Expanding our platform though an investment in Maravilla is the continuing demonstration of our ability to secure cost-effective exposure to high-impact exploration licenses in emerging basins. The expansion of our Walvis Basin footprint positions us to participate in the next chapter of Namibia's offshore success. We look forward to providing updates on progress in the coming quarters."

TotalEnergies holds a 40% operated interest in the PEL83.

As key licenses in Namibia inch towards production goals, major players in the region are trying to secure their positions as significant deepwater operators in the prolific Orange Basin

Having drawn the interests of oil giants like TotalEnergies and Galp, Namibia is on the path to become a happening regional production hub. TotalEnergies and Galp besides, key international partners in the region are accelerating exploration, appraisal and commercial development.

License interests and asset swap

TotalEnergies has concluded the transaction with Galp which initiated in December 2025.

The major has acquired from Galp a 40% operated interest in the PEL83 license, holding the Mopane discovery, while Galp took a 10% participating interest from TotalEnergies in the PEL56 license, holding the Venus discovery and a 9.39% participating interest in the PEL91 license.

Further to the completion of this transaction, TotalEnergies holds a 40% operated interest in the PEL83 license alongside Galp (40%), Namcor (10%) and Custos (10%), a 35.25% operated interest in the PEL56 license, alongside QatarEnergy (35.25%), Galp (10%), Namcor (10%) and Impact (9.5%), as well as a 33.09% operated interest in PEL91 alongside QatarEnergy (33.03%), Namcor (15%), Impact (9.5%) and Galp (9.39%).

Strategic milestones and Mopane appraisal timeline

“We would like to thank the Namibian authorities for their swift approval of this strategic transaction with Galp, our new partner in Namibia. TotalEnergies' entry as operator of the giant Mopane discovery marks a key milestone in our journey to establish a major production hub in Namibia”, said Patrick Pouyanne, chairman and CEO of TotalEnergies. “This transaction positions TotalEnergies as the operator of Namibia's two largest oil discoveries and strengthens its position in the Orange Basin, supporting the long-term value creation from prolific licenses. Exploration opportunities are already lining up beyond the Mopane development, which we will start appraising as early as the second half of 2026 aiming at taking the FID of the project in 2028, after a 3 appraisal well campaign”.

The partners will launch an exploration and appraisal campaign including three wells over the next two years, with a first well planned in 2026, to further derisk resources and progress diligently toward the development of the Mopane discovery.

Concurrently, TotalEnergies, operator of PEL56, remains fully committed to the development of the Venus discovery and is working to secure all conditions enabling a potential final investment decision in 2026.

Industry collaboration and hub vision

"We are very happy to have been selected by Galp as their partner and operator for the prolific PEL83 license, including the Mopane discovery in Namibia. This is a strong recognition of the exploration and deepwater competences of TotalEnergies teams. This transaction demonstrates also the strong confidence of TotalEnergies towards Namibia as a future oil producing country. TotalEnergies will leverage its recognised operatorship track record to progress towards profitable and sustainable developments of both Venus and Mopane discoveries. By enabling the creation of a producing hub in Namibia, we aim to achieve synergies that will create long-term value for both Namibia and the stakeholders," said Pouyanne last year. "We are eager to keep building on our collaboration with the Namibian authorities in order to deliver both developments."

The last date for bids submission is 8 January 2027.

When participating in bid rounds, investors usually seek access to proven petroleum systems, key exploratory leads and significant cross-border energy assets

The Joint Oil Block and the strategic Zarat Discovery in the Gabes-Tripoli Basin that is up for bidding by Joint Oil and Moyes & Co promises these offerings with the high-potential 3,000 sq km opportunity.

Bid round launch and presentation

Joint Oil Exploration, Exploitation and Petroleum Services Company (Joint Oil) and its appointed advisor, Moyes & Co. (Moyes) have announced the Joint Oil Block and Zarat Discovery bid round from 7 September to 31 December 2026 

The bid round opportunity will be presented at the World Energy Summit in London on 29-30 September 2026. The last date for bids submission is 8 January 2027. Winning bidders will be informed by 26 February 2027, with formal awards expected by 30 April 2027.

Spanning an area of 3,000 sq km at water depths of 80-120m, the offshore acreage available for the bid round is located in the prolific Gabes-Tripoli Basin of the central Mediterranean. This can potentially advance cross-border energy cooperation between Tunisia and Libya.

Commercial framework and seismic data assets

The commercial packages that make up the bid offer comes in the form of an exploration and production sharing agreement (EPSA). With 6,500 km of 2D and 1,900km of 3D seismic data available for the acreage, it unlocks access to new plays, leads, and prospects: 

- Zohra-1 (1976)

- El Amal South 1 (1999)

- Besmah-1 (2002)

- El Amal North 1 (2002)

- Zarat North 1 (2010)

- El Bouri, El Jurf and Bihr El Salam in Libya

- Hasdrubal, Ashtart, Miskar & Didon in Tunisia

The development of the Zarat Discovery — which straddles the Tunisia-Libya border — is a unitised oil and gas resource. This will be governed by a development and production sharing agreement (DPSA), unitisation agreement (UA), unit operating agreement (UOA), and operating services contract (OSC).

Strategic location

The concession is blessed with a highly strategic offshore location that lies close to several major producing fields across the Sabratha-Gabes Basin, including Al Jurf, Bahr Essalam, and Bouri offshore Libya, as well as Ashtart, Didon, and Miskar offshore Tunisia. This positioning enhances the project’s long-term value proposition through access to established regional infrastructure, operational synergies, and export pathways.

BluEnergies, alongwith TTE, are working to identify drillable prospects in blocks from the Harper Basin offshore Liberia as part of their work programme

Ongoing work on the blocks LB-26, LB-30 and LB-31 involves data reprocessing for which TGS and GeoPartners have been deployed. About 6,167 sq kms of 3-D seismic data has been reprocessed by TGS to enhance the seismic character/definition and the AVO content (Direct Hydrocarbon Indicator) of the original 3-D seismic survey. 

High-resolution MBES survey

GeoPartners has deployed a R/V GYRE vessel to conduct within the blocks a Multi-Beam Eco Sounder survey (MBES) comprising an area of 4,045 sq km in water depths ranging from 500 meters to 3,500 meters. Completion of this acquisition is being aimed in so that the integration process can be accelerated to achieve a refined 3-D seismic data interpretation.

The MBES can map underwater terrain, aiding in identifying sea bottom anomalies, supporting the safe selection of future drilling locations. It can identify seabed geomorphologies (pockmarks, mud volcanoes, faults, etc.) and the presence of anomalous features (carbonates, outcrops, bacterial mats, etc.). This special survey can perform water column imaging for the detection of anomalies related to seepage of hydrocarbons through the sea bottom.

Seabed Geochemical Sampling is conducted through piston coring to collect evidence of migrated mature hydrocarbons (detection of fluorescent/natural oil compounds, hydrocarbon chromatography, thermogenic origin, etc.).

Geological context

Sergio Laura, BluEnergies’ Vice President of Exploration, said, “The West Africa Transform Margin, where the Harper basin is located, and its conjugate South American Margin are regions where basin floor fan plays are being actively and successfully explored, developed and produced. The recent, hectic activity by major oil companies in securing licenses for deepwater acreage along the entire Africa west margin is confirmation that the early move by BluEnergies in the Harper basin (2023) was a valid one. The Jubilee field in Ghana, the Venus field in Namibia, and the recent discoveries offshore Cote d’Ivoire have proven the significance of basin floor fan plays along the African margin.”