Sintana to acquire interests in Namibian exploration company

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."