Eytan Uliel , CEO of Challenger Energy, commented: “The issue of permits for seismic acquisition in Uruguay is an important milestone, which should be understood more generally in the context of increasing activity and industry interest in Uruguay’s offshore, and we thus look forward to what we expect will be value-adding progress over the coming months.
“This comes as we approach completion of our transformative transaction with Sintana Energy, and we are thus equally excited by the news that TotalEnergies will be taking a major position in PEL 83, Sintana Energy’s flagship asset in Namibia.”
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TotalEnergies will acquire from Galp a 40% stake in PEL 83 in Namibia and assume operatorship , in exchange for 10% of PEL 56, home to the Venus discovery, 9.39% of PEL 91, and a funding/partial carry arrangement for PEL 83.
The two companies agreed to launch an exploration and appraisal campaign on PEL 83, including three wells over the next two years, with a first well planned in 2026, to further derisk resources and progress diligently toward the development of the Mopane discovery.
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“Further updates will be provided as to progress of the seismic campaign at AREA OFF-1, progress at PEL 83, and developments more broadly in Namibia, Uruguay and Angola, once Challenger Energy is a part of the broader Sintana Energy group, a process which we expect will finalise in the near term,” noted Uliel.