Sintana Energy's Strategic Partnership with QatarEnergy
TORONTO – Sintana Energy Inc. (TSX-V: SEI, OTCQB: SEUSF) is excited to announce QatarEnergy's significant entrance into the Petroleum Exploration License 90 (PEL 90) joint venture, acquiring a 27.5% working interest in this petroleum exploration license. This joint venture includes well-respected entities such as Chevron Corporation, through its subsidiary, Harmattan Energy Limited, which retains a 52.5% operating interest. The remaining shares are held by the National Petroleum Corporation of Namibia (NAMCOR) and Trago Energy, creating a robust partnership for exploration activities.
Location and Significance of License Block 2813B
Located roughly 200 kilometers off the shores of Namibia in the promising Orange Basin, Block 2813B is distinguished by its proximity to notable discoveries, including TotalEnergies’ Venus find. QatarEnergy's involvement is poised to enhance the prospective nature of this license, covering an expansive area of 5,433 square kilometers at water depths varying from 2,400 to 3,300 meters.
The Future Exploration Plans
This year has seen substantial preparation for the inaugural exploration campaign in PEL 90. The joint venture recently contracted Northern Ocean's state-of-the-art semi-submersible drilling rig, Deepsea Bollsta, to drill the Kapana-1X well, anticipated to commence in December. This state's exploration activities are critical as they lie directly adjacent to TotalEnergies’ discoveries, showcasing the potential for significant outcomes in this region.
Leadership Insight
Robert Bose, the Chief Executive Officer of Sintana, expressed enthusiasm regarding QatarEnergy's entry, stating, “This partnership is a testament to the quality and potential of our portfolio situated at the heart of the Orange Basin. We are eager to commence our drilling campaign on PEL 90 shortly.”
About Sintana Energy Inc.
Sintana Energy is dedicated to the exploration and development of petroleum and natural gas across five sizable, highly promising licenses, both onshore and offshore, in Namibia and Colombia's Magdalena Basin. Their approach emphasizes high-quality, sustainable exploration efforts in regions with undeveloped potential.
Corporate Contacts
Sintana Energy’s team, led by CEO A. Robert Bose, is committed to transparency and maintaining open lines of communication regarding their ongoing projects and developments. Interested parties are encouraged to follow the company for updates.
Frequently Asked Questions
What is Petroleum Exploration License 90?
PEL 90 is a petroleum exploration license in Namibia, covering Block 2813B, where Sintana Energy and its partners are exploring for oil and gas resources.
Who are the main partners in the PEL 90 joint venture?
The PEL 90 joint venture includes Chevron Corporation, QatarEnergy, NAMCOR, and Trago Energy, reflecting a strong coalition in exploration efforts.
What drilling activities are planned for PEL 90?
The main drilling activity planned is the Kapana-1X well, slated for the second half of December, using Northern Ocean's Deepsea Bollsta rig.
How does QatarEnergy's involvement affect Sintana Energy?
QatarEnergy's involvement not only bolsters the credibility of Sintana's explorations but also enhances the financial and operational capacity to exploit resources effectively.
Where can I find more information about Sintana Energy?
For detailed information or to receive updates on Sintana's projects and corporate activities, visit the company’s official website: www.sintanaenergy.com.
