News Industry

Sintana Energy acquires Challenger to strengthen presence in African offshore

Sintana Energy acquires Challenger to strengthen presence in African offshore
Friday, 10 October 2025 17:56

• Canadian Sintana buys UK-based Challenger Energy in all-share deal worth $61 million
• Merger covers offshore assets in Uruguay and Namibia’s PEL 79 and PEL 83 blocks
• Move aims to help independents compete with major oil firms in Africa

Canadian offshore explorer Sintana Energy announced on October 9 the acquisition of London-listed Challenger Energy Group. The all-share transaction marks a new step in the consolidation of independent oil exploration companies.

By combining their portfolios, which include the OFF-1 and OFF-3 blocks in Uruguay and offshore permits PEL 79 and PEL 83 in Namibia, Sintana and Challenger aim to strengthen their position along the Atlantic margin, a key region linking southern Africa to South America. In Namibia, major discoveries by TotalEnergies, Shell, and Galp in recent years have confirmed the country’s strong oil and gas potential.

Under the share exchange, Challenger’s shareholders will receive Sintana stock, valuing the British firm at about $61 million. The deal will allow both companies to pool technical and financial resources to accelerate seismic surveys and drilling campaigns planned through 2026.

For Sintana, the acquisition reflects its ambition to scale up. In an environment dominated by global majors, independent explorers are joining forces to remain competitive in a capital- and technology-intensive field.

The transaction comes as several African countries, including Namibia, Côte d’Ivoire, and Senegal, attract growing investor interest. Petrobras and BW Energy are among the firms that have recently shown interest in these markets.

Completion of the deal is expected by the end of 2025, pending regulatory and shareholder approvals. Sintana’s challenge will be to turn this expansion into operational success, as neither company yet holds producing assets and exploration risks remain high.

On the same topic
Morocco welcomed 16.6M tourists Jan-Oct 2025, up 14% year-on-year Annual arrivals may exceed 19M, surpassing 18M government target Tourism revenues...
Kibali gold mine Q3 output rises 21% to 191,000 ounces Boost driven by 133% increase in open-pit ore production Barrick maintains full-year target;...
U.S. adds uranium to critical minerals list, now totaling 60 substances Move reflects rising nuclear fuel demand and supply chain concerns U.S....
Germany committed €21 million ($24.28 million) to fund Nigeria's clean energy transition and capacity building. The funding targets the...
Most Read
01

The Bank expects a 41% rise in 2025 and a further 6% increase in 2026. Gold topped $4,00...

World Bank sees precious metal prices staying high until 2027
02

Social media users accuse the UAE of backing Sudan’s RSF militia. Activists and celebrities c...

UAE faces backlash over alleged role in Sudan’s gold and arms trade
03

Africa is projected to supply up to 9% of the global rare earths market thanks to announced mines, p...

U.S. Stays Course on African Rare Earths, Despite China Deal
04

Ghana holds talks to address energy debt and tighten sector oversight New inspector, stricter...

Ghana Moves to Rein In $8.4 Billion Energy Debt with Stronger Regulation
05

COBAC raises bank capital requirement to 25 billion CFA francs from 10 billion Compliance dea...

CEMAC Regulator Quadruples Bank Capital Requirement, Matching Regional Trend
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.