Sintana Energy Expands West African Footprint

Sintana Energy has entered into an agreement to acquire a 44% interest in Maravilla Oil and Gas, a private company concentrating on energy exploration in West Africa. This transaction will provide Sintana with indirect exposure to Petroleum Exploration License 37 (PEL 37), a significant exploration license situated in the Walvis Basin off the coast of Namibia.

PEL 37 encompasses approximately 17,295 square kilometres of shallow offshore waters. The license area has undergone extensive technical evaluation, including comprehensive 3D seismic surveys and analysis of historical drilling data. Multiple large fan structures have been identified above a recognized oil-prone Aptian source rock, presenting a compelling exploration prospect.

Crucially, PEL 37 is strategically positioned adjacent to acreage where major international energy companies are planning future exploration. Chevron, through an affiliate, operates the nearby PEL 82, and exploration activities, possibly including a well, are anticipated by 2027. Sintana already holds indirect exposure to this area.

Furthermore, Galp and Total are preparing for a series of exploration and appraisal wells on PEL-83 and the Mopane discovery, commencing in late Q4. This program aims to enhance the volumetrics of existing discoveries and prepare for a potential Final Investment Decision in 2028, with operations appearing to be on schedule.

Sintana also maintains a strategic position in Uruguay, where it partners with major entities like APA, ENI, Shell, and QE. The company's strategy across these jurisdictions focuses on identifying opportunities that attract major partners and create options for mergers and acquisitions.