Sintana Energy Updates Ongoing Exploration Campaign in Namibia’s Orange Basin on Blocks 2813A and 2814B.
The blocks are governed by Petroleum Exploration Licence 83 (PEL 83), which is operated by a subsidiary of Galp Energia of Portugal. Sintana maintains an indirect 49% interest in Custos Energy, a 10% working interest owner in PEL 83. NAMCOR, the National Petroleum Company of Namibia, also maintains a 10% working interest.
“The continuing success of the exploration campaign further demonstrates the scope and potential of PEL 83. We extend our further congratulations to our partners Galp and NAMCOR,’ said Knowledge Katti, chairman and CEO of Custos. “This is another significant milestone for Custos, positioning us for further growth and continued success underpinned by our unmatched position in the heart of the basin.”
“The announcement of another significant discovery and the appraisal success at the upper target is further testament to the hard work and dedication of the partners involved, as well as another demonstration of the potential for further growth in our oil industry. With this discovery, we are one step closer to harnessing the full potential of this campaign,” said Maggy Shino, Petroleum Commission for the Ministry of Mines and Energy. “We are proud to have achieved this milestone.”
“This third light oil discovery in the Mopane complex and the appraisal results at the AVO-1 reservoir, 8 km away from the 1X location, provide further evidence of the scale and quality of our exploration portfolio held through our local partners, including Custos. We continue to be reminded of the timeliness of our entry into Namibia with the ongoing progress and success,’ said Robert Bose, CEO of Sintana. “We extend our further congratulations to the joint venture partners on this additional success.”
