Sintana Energy Boosts Namibia Offshore Portfolio as Mopane Resources Hit 1.38bn BOE and TotalEnergies Expands Role
Sintana Energy Inc. says its Namibian offshore portfolio has entered a pivotal phase, driven by significant resource growth at the Mopane discoveries, TotalEnergies’ entry into Petroleum Exploration Licence (PEL) 83, and new efforts to expand into additional acreage.
In a shareholder update, the company described 2025 as a defining year that reinforced Namibia’s status as a leading frontier oil and gas destination, positioning Sintana for a potentially transformative 2026.
Mopane and PEL 83 drive near-term value
The company’s most significant asset remains PEL 83 in the Orange Basin, where TotalEnergies acquired a 40% stake and operatorship in late 2025.
As part of the agreement, TotalEnergies committed to drilling up to three additional exploration and appraisal wells to further define the Mopane discoveries and assess broader block potential, while also funding development costs.
Sintana retains a 4.9% indirect carried interest, meaning it has exposure to project upside without near-term capital commitments for development.
Resource upgrade strengthens project outlook
Momentum around Mopane has accelerated following a major upgrade by Galp Energia, which increased gross 3C contingent resources to 1.38 billion barrels of oil equivalent, up 57% from the previous estimate of 875 million boe. This translates to approximately 67 million boe net to Sintana’s indirect interest.
The revised resource estimate positions Mopane among the most significant recent discoveries in Namibia’s Orange Basin and strengthens the case for commercial development.
Development timeline taking shape
TotalEnergies has outlined a potential development roadmap, targeting a final investment decision by 2028 and first oil production by 2032.
The concept includes a floating production, storage, and offloading (FPSO) vessel with capacity of around 200,000 barrels per day.
Expansion into new acreage
Beyond PEL 83, Sintana is also pursuing growth opportunities in neighbouring licences. The company has secured exclusivity through a letter of intent signed in January 2026 for a potential investment in PEL 37 in the Walvis Basin, located north of Chevron-operated acreage in PEL 82.
Technical, legal, and commercial due diligence is currently underway, with the company aiming to formalise entry in the near term.
Strategic positioning in Namibia’s offshore boom
Sintana said ongoing exploration success and increasing industry activity continue to validate Namibia’s offshore potential.
The company’s strategy focuses on securing carried interests alongside major operators, allowing it to benefit from exploration and development upside without directly funding high-cost drilling programmes.
With rising Mopane resources, a clearer development timeline, and potential expansion into new blocks, Sintana is positioning Namibia as the core driver of its growth strategy for 2026 and beyond.
