PEL 87 – About the Permit

Sintana holds an indirect and carried interest in PEL 87 (Block 2713) offshore Namibia, and to the northwest of the Kudu Gas Field.

Seismic data covers more than 1,400 km² of 3D and regional grid of 2D seismic ties to other blocks and key wells. The Moosehead-1 well drilled by HRT in 2013 encountered a thick Barremian carbonates source rock section and thick shale seal section, but lacked maturity and porosity at well location. PEL 87 contains the Saturn turbidite complex that spans more than 2,400 km² and has significant oil potential. The Aptian/Albian age fan rests directly on top of source rocks and contains several sands within the 280m gross section.

In March 2023, Woodside entered into an option agreement to acquire a 56% participating interest in PEL 87, in consideration for which it agreed to fund the full costs of a 3D seismic acquisition campaign. A 6,593 km² 3D seismic acquisition programme over and around PEL 87 was completed in May 2023 at a cost of US$40 million, the costs of which were fully born by Woodside. In March 2025 Woodside decided not to exercise its option, and as a result Pancontinental, the operator of the block, is currently engaged in a process to secure an alternate partner for PEL 87 with equivalent carry rights for Sintana.

PEL 87 Snapshot