Sintana Energy progresses exploration drilling campaign offshore Namibia


*Sintana’s Orange Basin campaign

London — Sintana Energy Inc. confirmed that a subsidiary of Galp Energia, the operator of Petroleum Exploration License 83 (“PEL 83) in the heart of Namibia’s Orange basin, has signed a contract with SFL Corporation (“SFL) for the semi-submersible rig Hercules.

The contract is for two wells plus optional well testing. The drilling program, including mobilization, is projected to commence in the fourth quarter of 2023. Without any options, the duration of the contract is approximately 115 days including mobilization to Namibia.

Galp is the operator of PEL 83 and holds an 80% interest. Partners include the National Petroleum Company of Namibia (“Namcor”) with 10% and Custos Investments (Pty) Ltd. (“Custos”) with 10%. Sintana has a 49% indirect interest in Custos.

PEL 83 is located immediately north of Shell’s PEL 39, where the basin opening discoveries at Graff-1, La Rona-1 and Jonker-1 were successfully drilled. Additionally, it is located north and east of Total Energies’ world class, multibillion barrel Venus-1 oil discovery on PEL 56. Both Shell and Total continue to progress multi-rig exploration and appraisal activities on their respective licenses.

“Our Orange basin Licenses, PEL’s 83, 87 and 90, are ideally located at the heart of the play. The significant prospectivity of PEL 83, together with its relatively shallow water depth (250 – 2,550 meters), position it to be one of the most significant and profitable developments in Namibia,” said Knowledge Katti, Chairman and Chief Executive Officer of Custos and a Director of Sintana.

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This article was originally posted at sweetcrudereports.com

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