Sintana Energy Inc said on Monday that efforts are underway to secure a new farm-in partner for Petroleum Exploration License 87 (PEL 87) in Namibia’s Orange Basin after Woodside Energy (GOM) Inc. decided not to exercise its option to participate in the project.
In a statement, Sintana said that Woodside made its decision in advance of the long stop date of May 2025 rather than waiting until the last possible moment to confirm or decline participation.
Despite Woodside’s exit, the joint venture partners remain optimistic about the block’s potential. A 6,593 square kilometre 3D seismic dataset, fully funded by Woodside, has identified several high-potential prospects comparable in scale to other recent discoveries in the Orange Basin.
“We look forward to deploying our portfolio of relationships with operators, including the supermajors, to bring forward the potential of PEL 87,” said Knowledge Katti, CEO of Custos and a director of Sintana.
Robert Bose, CEO of Sintana, emphasized the block’s strategic importance. “The extensive dataset from the seismic campaign, along with our ongoing efforts to refine a significant inventory of leads and prospects, positions the PEL 87 partners to expedite farm-in discussions,” he said.
PEL 87, which spans blocks 2713A and 2713B, is operated by Pancontinental Orange, a unit of Pancontinental Energy NL, with Sintana holding an indirect interest through Custos Investments (Pty) Ltd.
The company did not disclose a timeline for securing a new partner but reiterated its commitment to advancing exploration in the region.