Namibia’s mines ministry has approved a 12-month extension for PEL 79 to July 2026.
PEL 79 covers Blocks 2815 and 2915 in the Orange Basin, a region that has attracted significant interest for its oil potential.
The license is held in partnership between Namibia’s state oil company, Namcor, which operates PEL 79 with a 67% interest, and Giraffe Energy Investments, which owns the remaining 33%.
Sintana Energy Inc. holds a 49% stake in Giraffe Energy, giving it an indirect interest in the license.
PEL 79 is strategically positioned inboard of licenses operated by BW Energy, Rhino Resources, and Shell. Rhino Resources has recently drilled the Capricornus-1X discovery well in nearby PEL 85, which delivered a flow test exceeding 11,000 barrels per day of light oil. Additional drilling targeting the Volans prospect, as well as further appraisal wells, is planned for later this year.
BW Energy has acquired 4,600 km² of new 3D seismic data over PEL 3, which lies directly west of PEL 79. The company is preparing for an exploration and appraisal drilling campaign that includes the Kharas well northwest of the Kudu gas field, expected to spud in the second half of 2025.
PEL 79 itself is supported by an extensive existing dataset, including over 4,760 km of 2D seismic, 1,137 km² of 3D seismic, and one well that intersected the Kudu source rock with gas shows.
The block has strong potential given its location near these active and proven plays.
Robert Bose, Chairman of Giraffe Energy and CEO of Sintana, welcomed the extension, saying the extension positions the joint venture to fully realise the significant geologic, commercial, and strategic value of PEL 79.
“The potential for high-impact progress on PEL 79 adds to the prospect for substantial developments across our Namibian offshore portfolio,” Bose said, adding that the joint venture partners expect material progress on all their licenses over the coming quarters.
The extension provides the joint venture partners with critical time to evaluate new regional drilling results, plan, and position PEL 79 for future exploration campaigns in one of Africa’s most closely watched offshore basins.
