Pancontinental gets approval on PEL87 extension offshore Namibia

Operator of Petroleum Exploration License 87 (PEL 87) offshore Namibia, Pancontinental Energy Limited, has received approval from the Namibian Ministry of Industry, Mines and Energy (MIME) on license extension by 12 months to 22 January 2027

During the extension period, the PEL 87 joint venture partners will undertake an environmental impact assessment (EIA), reprocess 3D seismic data and seismic interpretation, and drill an exploration well. 

Work is underway on the EIA since 2025 while a subset of PEL 87 3D is being reprocessed. Governing blocks 2713A and 2713B in the Orange Basin, seismic signal quality in the license, especially in targeted areas, will see marked improvement following reprocessing work.

Robert Bose, chief executive officer of Sintana Energy, said, "We are grateful to the Minister for the extension of PEL 87. We look forward to the continued refinement of the existing seismic work in anticipation of securing a farm in partner to progress the project to a focused drilling programme." 

Sintana has a 7.4% indirect carried interest in PEL 87.