Sintana Energy Inc. has announced the completion of the transaction between TotalEnergies and Galp Energias that gives TotalEnergies a 40% operated interest in Petroleum Exploration Licence 83, or PEL 83, in Namibia’s Orange Basin. The licence includes the Mopane discoveries.
#PEL 83 ownership structure
Following completion, PEL 83 is held by TotalEnergies with 40% as operator, Galp with 40%, NAMCOR with 10% and Custos Energy (Pty) Ltd. with 10%.
Sintana holds an indirect 49% interest in Custos. The company says this represents an effective 4.9% interest in PEL 83.
#Mopane resource estimate and planned activity
The Mopane discoveries have a current 3C resource estimate of approximately 1.3 billion barrels equivalent.
TotalEnergies has indicated that it plans to begin a 3-well exploration and appraisal campaign on PEL 83 in 2026. Sintana Chief Executive Officer Robert Bose said the campaign is expected to commence in Q4 2026.
The company said the planned work is being undertaken in anticipation of a potential final investment decision for a phase 1 development in 2028, with first oil production targeted for 2032. These remain stated plans and targets, rather than completed events.
#Sintana’s position and wider portfolio
Bose described TotalEnergies’ entry into the licence as a milestone for the Mopane project, the joint venture and Sintana. He said the operator would lead the planned exploration and appraisal programme and that the company expected upcoming activity to provide further definition of the asset.
Sintana says its portfolio includes interests in eight licences in Namibia and Uruguay. It also reports pending indirect interests in additional licences in Namibia and Angola, as well as legacy assets in Colombia and The Bahamas.
The Canadian parent company describes its focus as the acquisition, exploration, potential development and eventual monetisation of interests in assets with significant hydrocarbon resource potential in emerging “frontier” geographies.
#Local development and identified risks
Sintana says it supports the responsible development of Namibia’s resources, including through its indirect interest in Custos, which it describes as a Namibian company. It also refers to opportunities for local capacity building and broad-based benefit, but does not provide quantified benefits or further implementation details.
The company cautioned that forward-looking statements are subject to risks including general economic and business conditions, competition, failure to obtain regulatory approvals or satisfy conditions precedent, changes to project parameters as plans are refined, environmental and other regulatory changes, actions by government authorities, capital-market availability, reliance on key personnel, and uninsured or underinsured losses.
Sintana said actual results could differ materially from its forward-looking statements and that many relevant factors are beyond its control. It also said it cannot assure investors that actual results will be consistent with those statements.
#Key Takeaways
- TotalEnergies has completed its acquisition of a 40% operated interest in Namibia’s PEL 83 from Galp Energias.
- PEL 83 is held by TotalEnergies, Galp, NAMCOR and Custos Energy (Pty) Ltd.
- Sintana’s indirect interest in Custos gives it an effective 4.9% interest in PEL 83.
- The Mopane discoveries have a current 3C resource estimate of approximately 1.3 billion barrels equivalent.
- TotalEnergies has indicated plans for a 3-well exploration and appraisal campaign in 2026, with a potential final investment decision in 2028 and first oil targeted for 2032.
#What transaction has Sintana Energy announced?
Sintana Energy Inc. (TSXV:SEI)(AIM:SEI)(OTCQX:SEUSF) announced completion of the transaction between TotalEnergies and Galp Energias. Under the completed transaction, TotalEnergies acquired a 40% operated interest in PEL 83 in Namibia’s Orange Basin, where the Mopane discoveries are located.
#How is PEL 83 now owned?
PEL 83 is held by TotalEnergies with 40% as operator, Galp with 40%, NAMCOR with 10% and Custos Energy (Pty) Ltd. with 10%. Sintana maintains an indirect 49% interest in Custos, which the company says provides an effective 4.9% interest in PEL 83.
#What resource estimate is given for the Mopane discoveries?
The source gives the Mopane discoveries a current 3C resource estimate of approximately 1.3 billion barrels equivalent. No revised estimate or additional resource classification is provided.
#What activity has TotalEnergies indicated it plans for PEL 83?
TotalEnergies has indicated that it plans to initiate a 3-well exploration and appraisal campaign on PEL 83 in 2026. Sintana CEO Robert Bose said the campaign is expected to commence in Q4 2026.
Sintana says the campaign is being pursued in anticipation of a potential final investment decision for a phase 1 development in 2028, targeting first oil production in 2032. These are stated plans and targets, not completed events.
#What does Sintana say about its wider portfolio?
Sintana says it has interests in eight licences in Namibia and Uruguay, together with pending indirect interests in additional licences in Namibia and Angola and legacy assets in Colombia and The Bahamas. The company describes its focus as the acquisition, exploration, potential development and eventual monetisation of interests in assets with hydrocarbon resource potential in emerging “frontier” geographies.
#What risks and uncertainties does the source identify?
Sintana identifies general economic and business conditions, competition, failure to obtain regulatory approvals or satisfy conditions precedent, changes in project parameters as plans are refined, environmental and other regulatory changes, actions by government authorities, availability of capital markets, reliance on key personnel, and uninsured and underinsured losses as risks to forward-looking statements.
The company says these and other factors could cause actual results to differ materially from its forward-looking statements, with many of the factors beyond its control. It also says it cannot assure investors that actual results will be consistent with those statements.
#What information is provided about local benefits or development?
Sintana says it remains committed to supporting the responsible development of Namibia’s resources for the benefit of its people. It links this commitment to its indirect interest in Custos, which it describes as a Namibian company, and refers to opportunities for local capacity building and broad-based benefit.
The source does not quantify these benefits or provide further details on how they would be implemented.
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