TotalEnergies has completed its acquisition of a 40% operated interest in Petroleum Exploration Licence 83 (PEL 83) in Namibia's Orange Basin, according to a statement from Sintana Energy Inc..

PEL 83, which contains the Mopane discoveries, is now held by TotalEnergies (40%, operator), Galp (40%), NAMCOR (10%), and Custos Energy (Pty) Ltd. (10%). Sintana holds an indirect 49% interest in Custos, giving the company an effective 4.9% interest in PEL 83.

The Mopane discoveries carry a current 3C resource estimate of approximately 1.3 billion barrels equivalent. TotalEnergies has indicated plans to begin a three-well exploration and appraisal campaign on PEL 83 in 2026, with a potential final investment decision for a phase 1 development targeted for 2028 and first oil production targeted for 2032.

"The completion of TotalEnergies' entry into PEL 83 marks a defining milestone for Mopane, for the Joint Venture and for Sintana," said Robert Bose, Chief Executive Officer of Sintana Energy. "With one of the world's premier deepwater operators now driving a three-well exploration and appraisal campaign commencing in Q4 2026, the full scope of technical and financial resources has been coalesced to accelerate this asset toward development."