Namibia has extended Pancontinental Energy’s exploration timeline for Petroleum Exploration Licence 87 (PEL 87) in the Orange Basin.
The mines ministry approved a 12-month extension to the First Renewal Exploration Period, now running to 22 January 2027, allowing the company to continue technical studies while seeking a farm-in partner to fund drilling.
Under the extension, Pancontinental must complete an Environmental Impact Assessment, reprocess and interpret 3D seismic data, and drill an exploration well. The EIA, which began in mid-2025, is already progressing, while seismic work will focus on improving data quality in key areas.
Chief executive Iain Smith said the extension secures tenure and supports efforts to bring in a partner to move the project toward drilling.
PEL 87 spans about 10,970 km² in the Orange Basin, close to major discoveries made by Shell, TotalEnergies and Galp Energia.
The licence is operated by Pancontinental, which holds a 75% interest, alongside Custos Investments (15%) and NAMCOR (10%).
The decision reflects Namibia’s approach of allowing additional time for exploration while maintaining firm commitments to progress projects toward drilling.
