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Wednesday, October 5, 2022
Sintana Energy announced that Trago Energy, its Namibian affiliate, has completed a transaction with Chevron Namibia Exploration, in respect of its interest in PEL 90 located in the Orange Basin in Namibia. Chevron will carry Trago through initial exploration activities including 3D seismic and drilling of the first exploration well.
Trago will retain a 10% interest in PEL 90 on Block 2813B. Post the carry period, Trago will be responsible with approved expenses associated with its interest. Additional terms of the transaction have not been publicly disclosed.
PEL 90 represents one of the most exciting exploration opportunities in the Orange Basin sitting directly above TotalEnergies’ Venus-1 oil discovery.
“We are very happy to partner with Chevron in the Orange Basin,” said Knowledge Katti, Chairman and CEO of Trago and a Director of Sintana. “This transaction in our emerging, globally significant deepwater province brings partnership with an aligned, highly experienced and committed deep water drilling operator.
“This partnership demonstrates the continuing emergence of Namibia as an important hydrocarbon province, and the timeliness of our entry in March of this year,” said Robert Bose, President and Director of Sintana. “We look forward to the near-term exploration activity on PEL 90.”
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