Offshore staff
TORONTO, Canada – A 3D survey over Petroleum Exploration License 87 (PEL 87) and surrounding area in the Orange Basin offshore Namibia is more than 50% complete, according to partner Sintana Energy.
The survey will cover a total area of 6,872 sq km. Initial processed results should be available by the end of August.
The concession includes the 2,400-sq-km, already mapped Saturn turbidite complex said to share geologic characteristics with TotalEnergies on-trend deepwater Venus oil discovery.
“We remain confident that the results will confirm that we are on trend with the recent massive discoveries in the basin, and will further demonstrate that the Saturn turbidite complex is a significant offshore deepwater oil opportunity,” said Robert Bose, president and director of Sintana.
Woodside Energy entered an agreement with the partners recently to optionally assume a 56% in PEL 87 through covering the full cost of a 3D seismic survey over at least 5,000 sq km.
The company has until 180 days after delivery of the survey to exercise its option. If it does, a farm-out agreement would follow under which Woodside may also carry the partners for the cost of drilling the first exploration well.
Sintana owns 49% of Custos Investments, one of the partners.
04.24.2023
