{"id":12642,"date":"2022-09-13T10:09:50","date_gmt":"2022-09-13T10:09:50","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=12642"},"modified":"2022-09-13T10:09:50","modified_gmt":"2022-09-13T10:09:50","slug":"namibia-pancontinental-withdraws-from-pel-37-licence","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-pancontinental-withdraws-from-pel-37-licence\/","title":{"rendered":"NAMIBIA: Pancontinental Withdraws from PEL 37 Licence"},"content":{"rendered":"

Pancontinental<\/span>\u00a0<\/span>Energy\u2019s<\/span>\u00a0<\/span>66.67%<\/span>\u00a0<\/span>subsidiary,<\/span>\u00a0<\/span>Pancontinental<\/span>\u00a0<\/span>Namibia<\/span>, has decided to withdraw from the process of seeking an extension\u00a0<\/span>to the original\u00a0PEL 37 Licence\u00a0offshore Namibia. Pancontinental has held the licence\u00a0<\/span>since 28th March 2011.<\/span><\/p>\n

Since the withdrawal of farminee Tullow on 21 March 2021, Pancontinental Namibia\u00a0<\/span>has been endeavouring to reach agreement with its remaining joint venture partner\u00a0<\/span>and to seek an extension from the Ministry to enable a review of the\u00a0Cormorant well\u00a0<\/span>data.<\/span>\u00a0<\/span>However,<\/span>\u00a0<\/span>Pancontinental<\/span>\u00a0<\/span>has<\/span>\u00a0<\/span>not<\/span>\u00a0<\/span>been<\/span>\u00a0<\/span>able<\/span>\u00a0<\/span>to<\/span>\u00a0<\/span>reach\u00a0<\/span>agreement<\/span>\u00a0<\/span>with<\/span>\u00a0<\/span>the\u00a0<\/span>remaining joint venture partner on a way forward and the application for an extension\u00a0<\/span>would not be considered by the Ministry until the partners were in alignment on a\u00a0<\/span>way forward. The license, if extended, would expire 28 March 2023. Any potential\u00a0<\/span>additional investor would also be deterred by the short time left in the license.<\/span><\/p>\n

Pancontinental Namibia has now decided to apply for a new longer term licence,\u00a0<\/span>based on the facts that the current licence has little time left to do any meaningful\u00a0<\/span>work or to attract a farminee.<\/span><\/p>\n

Offshore Namibia has become a focus of oil industry attention after two major oil\u00a0<\/span>discoveries, by Total and Shell, in the Orange Basin in February this year. While the\u00a0<\/span>PEL 37 Licence lies in the Walvis Basin some distance to the north of the discoveries,\u00a0<\/span>there are certain geological similarities between the two basins.<\/span><\/p>\n

In<\/span>\u00a0<\/span>the<\/span>\u00a0<\/span>Orange<\/span>\u00a0<\/span>Basin<\/span>\u00a0<\/span>itself<\/span>\u00a0<\/span>and<\/span>\u00a0<\/span>on-In trend<\/span>\u00a0<\/span>to<\/span>\u00a0<\/span>Total\u2019s<\/span>\u00a0<\/span>major<\/span>\u00a0<\/span>Venus<\/span>\u00a0<\/span>oil<\/span>\u00a0<\/span>discovery,\u00a0<\/span>Pancontinental also holds a 75% interest and Operatorship of the\u00a0PEL 87 licence<\/strong><\/em>.\u00a0<\/span>Pancontinental has mapped the very large\u00a0Saturn turbidite complex<\/strong><\/em>\u00a0in PEL 87 at the\u00a0<\/span>same stratigraphic level and at approximately the same burial depth as the\u00a0Venus\u00a0<\/strong><\/em><\/span>discovery<\/strong><\/em>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Pancontinental\u00a0Energy\u2019s\u00a066.67%\u00a0subsidiary,\u00a0Pancontinental\u00a0Namibia, has decided to withdraw from the process of seeking an extension\u00a0to the original\u00a0PEL 37 Licence\u00a0offshore Namibia. Pancontinental has held the licence\u00a0since 28th March 2011. Since the withdrawal of farminee … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":12360,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,7445,11],"tags":[1675,1960,10716,10717,10718,8286],"class_list":["post-12642","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-southern-africa","category-top-news","tag-namibia","tag-pancontinental","tag-pel-37-licence","tag-pel-87-licence","tag-venus-oil-discovery","tag-walvis-basin","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/06\/Namibia-discoveries-basins.png?fit=467%2C637&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-3hU","jetpack-related-posts":[{"id":15555,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-pancontinental-energy-first-renewal-exploration-period-for-pel-87-ends\/","url_meta":{"origin":12642,"position":0},"title":"NAMIBIA: Pancontinental Energy First Renewal Exploration Period for PEL 87 Ends","author":"","date":"January 25, 2026","format":false,"excerpt":"Pancontinental Energy has provided an update in relation to its PEL 87 project, offshore Namibia following the submission an application to the Namibian Ministry of Industry, Mines and Energy (MIME) on 6 October 2025 for a 12 month extension to the PEL 87 First Renewal Exploration Period. The Company says\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-PEL-87.png?fit=1082%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-PEL-87.png?fit=1082%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-PEL-87.png?fit=1082%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-PEL-87.png?fit=1082%2C1200&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-PEL-87.png?fit=1082%2C1200&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":14856,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-woodside-elects-not-to-exercise-its-farm-in-option-in-pel-87\/","url_meta":{"origin":12642,"position":1},"title":"NAMIBIA: Woodside Elects not to Exercise its Farm-in Option in PEL 87","author":"","date":"April 14, 2025","format":false,"excerpt":"Pancontinental Energy has received notification from Woodside Energy that Woodside has elected not to exercise its option to farm-in to the PEL 87 project. This notice has been received in advance of the long stop date of May 18th, 2025, after which Woodside\u2019s option was due to expire. A process\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-PEL-87.png?fit=1082%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-PEL-87.png?fit=1082%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-PEL-87.png?fit=1082%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-PEL-87.png?fit=1082%2C1200&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Namibia-PEL-87.png?fit=1082%2C1200&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":11290,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-why-pancontinentals-hopes-linger-on-venus-1-graff-1-drilling-results\/","url_meta":{"origin":12642,"position":2},"title":"NAMIBIA: Why PanContinental’s Hopes Linger on Venus -1, Graff-1 Drilling Results","author":"","date":"December 3, 2021","format":false,"excerpt":"French\u00a0major\u00a0TotalEnergies\u00a0has\u00a0commenced\u00a0drilling\u00a0its\u00a0ultra-deep\u00a0Venus-1 well in the Orange Basin offshore Namibia On-trend, Pancontinental has mapped\u00a0the very large Saturn turbidite\u00a0complex\u00a0in\u00a0PEL\u00a087.\u00a0Saturn\u00a0is\u00a0geologically\u00a0similar\u00a0to\u00a0Total\u2019s\u00a0Venus\u00a0Prospect Venus and Saturn overlie the same high-quality mature Oil Source Rock,\u00a0and both lie immediately below the major Regional Seal The Maersk Voyager drillship has commenced Venus drilling in 3,000m of\u00a0water. Partners in the well\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/NAMIBIA-ORANGE-BASIN-PROSPECTS.png?fit=478%2C407&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":11369,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-shell-spuds-graff-1-well-in-pel-39\/","url_meta":{"origin":12642,"position":3},"title":"NAMIBIA: Shell Spuds Graff-1 Well in PEL 39","author":"","date":"December 14, 2021","format":false,"excerpt":"Shell has spud the Graff-1 well in Block 2913 Petroleum Exploration License (PEL) 39 State-owned Namcor reported, The well is being drilled at a depth of around 2000 meters using the Valaris DS-10 rig and comes days after Total Energies started drilling the Venus-1 well in the neighboring PEL 56.\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/NAMIBIA-ORANGE-BASIN-PROSPECTS.png?fit=478%2C407&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":13016,"url":"https:\/\/www.oilnewskenya.com\/index.php\/namibia-sintana-energy-receives-petroleum-exploration-license-87-extension-approval\/","url_meta":{"origin":12642,"position":4},"title":"NAMIBIA: Sintana Energy Receives Petroleum Exploration License 87 Extension Approval","author":"","date":"December 22, 2022","format":false,"excerpt":"Sintana Energy has provided the following update on several matters including a recently approved extension to Petroleum Exploration License 87 (PEL 87), a year-end review and 2023 outlook. \u201c2022 was a seminal year in Sintana\u2019s history underpinned most notably by our entry into Namibia in March,\u201d said Robert Bose, President\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/06\/Namibia-sintana-energy.png?fit=541%2C600&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/06\/Namibia-sintana-energy.png?fit=541%2C600&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/06\/Namibia-sintana-energy.png?fit=541%2C600&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":3038,"url":"https:\/\/www.oilnewskenya.com\/index.php\/pancontinental-oil-gas-pttep-withdraw-kenyas-block-l10a\/","url_meta":{"origin":12642,"position":5},"title":"Pancontinental Oil & Gas, PTTEP Withdraw from Kenya\u2019s Block L10A","author":"","date":"June 2, 2015","format":false,"excerpt":"Pancontinental Oil & Gas and its L10A joint venture partner PTTEP of Thailand have issued Operator BG Kenya L10A Limited notices of withdrawal from Block L10A in the Lamu Basin offshore Kenya. \u00a0 This is subject to Ministerial consent where Pancontinental\u2019s 18.75% interest and PTTEP\u2019s 31.25% interest will be transferred\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/11\/blockl10a-l10b.png?fit=698%2C402&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/11\/blockl10a-l10b.png?fit=698%2C402&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/11\/blockl10a-l10b.png?fit=698%2C402&ssl=1&resize=525%2C300 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/12642","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=12642"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/12642\/revisions"}],"predecessor-version":[{"id":12643,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/12642\/revisions\/12643"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/12360"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=12642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=12642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=12642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}