Oregen Energy has signed a non-binding letter of intent to evaluate an investment in Petrovena Energy, targeting additional exposure to Namibia’s Orange Basin through a newly awarded offshore block.
Petrovena has received an award letter to enter into a petroleum agreement for Block 2812Ab, a 2,742km² licence in the Orange Basin.
If the deal proceeds, Oregen will expand its footprint beyond its existing 33.95% indirect interest in Block 2712A (PEL 107), where it already holds a significant position through WestOil Ltd.
The targeted block is located northwest of TotalEnergies’ Venus discovery area and within the same geological trend as other major finds in the basin.
Oregen said the potential investment forms part of its strategy to build a larger position in Namibia’s offshore oil sector, with technical evaluation and negotiations now underway.
