PEL79 partners secure license extension in Orange Basin, Namibia

The Ministry of Industries, Mines and Energy for the Republic of Namibia has approved a second renewal exploration period with a 12-month extension for the petroleum exploration license 79 (PEL79) that includes blocks 2815 and 2915 located in Namibia's Orange Basin

The PEL 79  is operated by the National Petroleum Corporation of Namibia Ltd (Namcor) with a 67% interest, while Giraffe Energy Investments -- an entity in which Sintana maintains a 49% ownership interest -- owns a 33% share on the license.

Sitting inboard of licenses operated by BW Energy, Rhino Reosurces, and Shell, PEL 79 promises incredible prospects with an existing prospect inventory underpinned by more than 4760 km of 2D seismic, 1,137 sq km of 3D seismic and 1 well with gas shows intersecting the Kudu source rock.

To top that, PEL 79 sits adjacent to an emerging microregional dynamic focused on oil-weighted prospectivity.

Right outboard to the west of PEL79, the license operator, Rhino Resources, has drilled two wells, including the Capricornus-1X discovery well, that reflected a flow test exceeding 11,000 barrels per day of light oil with limited associated gas from a 38-metre net oil-bearing reservoir. The third quarter of the year will see the commencement of further drilling activity, targeting the Volans prospect, with up to two optional wells that could include appraisals.

BW Energy has acquired 4,600 sq km of new 3D seismic over PEL 3, located directly west of PEL 79, and has moved to initiate an exploration and appraisal campaign including drilling the Kharas well located northwest of Kudu during H2 2025.

“We appreciate the leadership by our joint venture partner NAMCOR to secure the extension for PEL 79. Extending our exposure during a period of significant offset activity positions us to fully realise the significant geologic, commercial, and strategic value of PEL 79,” said Robert Bose, chairman of Giraffe and chief executive officer of Sintana. “The potential for high impact progress on PEL 79 adds to the prospect for significant developments across our Namibian offshore portfolio. We expect material progress on all our licenses over the coming quarters,” he added.