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Sintana Energy reports 57% resource boost at Namibia oil project, now holding 67M barrels oil equivalent.

Market News
30 Mar 2026
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Sintana Energy announced a 57% increase in contingent resources at the Mopane oil complex off Namibia, raising its net interest to about 67 million barrels of oil equivalent. The upgrade follows new drilling by Galp Energia, which increased the gross 3C contingent resource from 875 million to 1.38 billion barrels. TotalEnergies is set to take over as operator, planning three more wells this year, aiming for a final investment decision in 2028 and first oil by 2032. Sintana holds a 4.9% indirect carried interest, with drilling costs covered by TotalEnergies and Galp. Additionally, Sintana received $3 million from ExxonMobil related to a Colombian block exit, with more payments expected. Seismic surveying is also underway in Uruguay, where Chevron operates the block with 60% ownership, highlighting growing industry interest in the region.

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