Highlights
- Chevron Namibia Exploration Limited (“CNEL”) entered into a farm-out for an 80% working interest and operatorship on April 28, 2024.
- Seismic programs conducted cover more than 3,500 km of 2D and 9,500 km2 of 3D seismic data.
- 3D coverage represents 70% of total block area.
- Wingat-1 Well recovered oil of 38-41 degree API.
- Prospects Channel E, F and Paris were fully evaluated, other possible analogous channels and leads exist.
- Licence area also indciates a deeper Aptian/Albian Fan play.
| Partners | Working Interest |
|---|---|
| Chevron Namibia Expl. Ltd. (Operator) | 80% |
| Custos Energy (Inter Oil (Pty) Ltd.)* | 10% |
| NAMCOR | 10% |
* Sintana owns 49% of Inter Oil (Pty) Ltd. resulting in an effective interest in PEL 82 of 5% carried interest
PEL 82 Snapshot
| Location | Walvis Basin |
| Area | 11,464 km2 |
| Ownership | Chevron – 80%; Namcor – 10%; Custos – 10% |
| Operator | Chevron |
| Carry | Carried for the upcoming exploration well |
| Key Attributes | -PEL 82 is considered one of the most technically advanced offshore opportunities in Namibia outside the Orange Basin -3D seismic coverage (~7,920 km²) spans 70% of the total license area (11,464 km²) -The Wingat-1 well (2013) confirmed regional extension and active petroleum systems in the Walvis Basin, recovering 38-41 degree API oil to surface |
| Stage | Exploration |
| Next Steps | Chevron planning to drill a “basin opening” well in 2027 |
PEL 82 – About the Permit
Sintana holds an indirect and carried interest in PEL 82 (Blocks 2112B/2212A) offshore Namibia in the Walvis Basin. Two historic wells have been drilled on the block – the Wingat-1 well drilled by a subsidiary of HRT in 2013, which recovered oil, and the Murombe-1 well, drilled by HRT in 2013, which intersected a mature oil-prone source in the Aptian sequence.
In April 2024, Chevron NE2 acquired an 80% operated working interest in PEL 82. A 3,440 km2 3D seismic survey in PEL 82 has resulted in the delineation of a number of significant prospects consisting of Lower Cretaceous submarine fans that are stratigraphically trapped.
Chevron NE2 is currently evaluating the prospect inventory and is considering an exploration drilling programme potentially in 2026.
