Pancontinental Energy NL has launched a seismic reprocessing feasibility study for Petroleum Exploration Licence 87 (PEL 87) offshore Namibia as it advances work required under a 12-month licence extension granted by the Ministry of Industry, Mines and Energy (MIME).
The study is aimed at determining the most cost-effective and technically efficient approach to reprocessing the licence’s existing three-dimensional (3D) seismic data, a key condition attached to the extension of PEL 87 until 22 January 2027.
According to the company, it is evaluating a range of post-stack and pre-stack seismic processing techniques to identify the option that delivers the best balance between data quality, cost and processing time.
Qualified seismic processing firms have been invited to submit competitive proposals, including test-processing a small section of the 3D dataset to assess potential improvements before a full-scale reprocessing programme is undertaken.
“One condition of the approval is reprocessing of the 3D seismic data, and the Company is progressing a seismic reprocessing feasibility study to determine the most efficient way to proceed, comparing a variety of post-stack versus pre-stack techniques. Qualified processing groups are being requested to submit proposals, which are to include test-processing of a small sub-volume of the 3D data in order to assess possible data quality improvements at a range of cost and duration outcomes,” the company said.
The technical work is progressing alongside discussions with prospective farm-in partners as Pancontinental seeks to secure funding and expertise for the next phase of exploration.
The company said it remains engaged with several interested parties but could not disclose details because of the confidential nature of the negotiations.
“Due to the necessarily confidential nature of the process and discussions, the Company is not able to provide details regarding the identity or number of interested groups. Upon securing a farm-in partner, it is the Company’s intent to jointly liaise with MIME at the earliest opportunity to discuss timing and logistical requirements to complete the committed work programme, the key component of which is drilling an exploration well,” the company said.
The developments at PEL 87 come as exploration activity across Namibia’s Orange Basin continues to gather momentum.
