Fossil Energy – Orange Basin
Oregen Energy has signed a Letter of Intent to evaluate an equity investment in Petrovena Energy and grow its footprint in Namibia’s Orange Basin.
Petrovena was recently issued a letter of award for a licence and PSA on Block 2812Ab, a deepwater block covering 2,742 square kilometres northwest of Block 2913B (PEL 56), the location of TotalEnergies’ Mopane and Venus discoveries.
2D seismic data covering Block 2812Ab indicate the presence of similar structural and stratigraphic features as in Block 2913B, suggesting the presence of similar plays.
“Block 2812Ab fits squarely within our strategy of investing in a concentrated Orange Basin portfolio with scale, geological continuity, and multiple strategic pathways. Its proximity to proven discoveries such as Venus, and to active development planning, enhances its strategic relevance as the region advances toward major investment decisions and production,” said Oregen Energy CEO Mason Granger.
Oregen and Petrovena are already partners in Block 2712A (PEL 107), which covers 5,484 square kilometres in water depths between 2,800 and 3,900 metres. Oregen holds a 33.95% indirect interest through its investment in WestOil, the block’s operator with a 70% share, while Petrovena and NAMCOR each hold 15%.
Namibia’s Orange Basin is one of Africa’s busiest offshore exploration plays, having attracted the presence of majors including Chevron, Galp, Shell and TotalEnergies, and yielded several high-profile discoveries in recent years.
