Sintana Energy has outlined a busy second half of 2026 across its Atlantic Margin portfolio, with major drilling, appraisal and seismic milestones expected in Namibia and Uruguay.
The company’s strongest near-term focus is Namibia, where progress across several licences is expected to shape its next phase. In PEL 83, TotalEnergies’ planned farm-in is expected to bring a major operator into the licence. Once completed, TotalEnergies will take operatorship and carry Sintana through a three-well exploration and appraisal campaign, expected to start in the second half of 2026.
PEL 83 has also become more material following Galp Energia’s 57% increase in gross 3C contingent resources at Mopane. The estimate has risen from 875 million barrels of oil equivalent to 1.38 billion barrels of oil equivalent. Sintana’s 4.9% indirect interest represents about 67 million barrels of oil equivalent. A final investment decision is targeted for 2028, with first oil targeted for 2032.
Chevron’s planned activity adds two further drilling events. At PEL 90, Chevron expects to drill a high-impact exploration well by the end of 2026, and Sintana is fully funded for its expected share of costs. At PEL 82 in the Walvis Basin, Chevron is expected to drill a high-impact exploration well during 2027, with Sintana fully carried for its share. Sintana has also signed a letter of intent giving it exclusivity to acquire a significant position in PEL 37, which sits next to PEL 82, at modest cost.
In Uruguay, the company has completed the first season of 3D seismic acquisition at AREA OFF-1. Fast-track results are expected in the second half of 2026. A second season, covering at least 1,500 square kilometres, is planned to begin in the fourth quarter of 2026. Sintana also holds interests in AREA OFF-2 and AREA OFF-4, where further farm-out activity remains a potential route to reduce cost exposure and advance technical work.
Sintana Energy Inc (TSX-V:SEI, OTCQX:SEUSF) is a public oil and natural gas exploration company listed on the Toronto Venture Exchange.
