Equinor and Chevron have entered into a partnership to explore prolific hydrocarbon plays in Namibia, following the signing of an agreement with Harmattan Energy Limited, a Chevron subsidiary in Namibia.
The transaction enabled the acquisition of a 17.4% participating interest in Petroleum Exploration Licence 90 (PEL 90) in Orange Basin, offshore Namibia, marking Equinor’s entry into Namibia, and the licence provides access to a drill-ready prospect scheduled for testing in 2026.
“This transaction aligns with our strategy to strengthen and replenish our international portfolio through focused and disciplined growth. Namibia is a promising basin that adds attractive option value to our portfolio and complements our broader Atlantic Margin position,” says Philippe Mathieu, executive vice president for Exploration & Production International.
The licence relates to Block 2813B in the Orange Basin, offshore Namibia, and is operated by Chevron. Prior to the transaction, Chevron’s subsidiary owned an interest of 52.5% in PEL 90, with the other partners in the licence being QatarEnergy (27.5%), Trago Energy (10%) and the state-owned oil company NAMCOR (10%).
The closing of the transaction is subject to regulatory approvals and completion processes.
On the sidelines of the UN General Assembly, Chevron Namibia Country Manager Beatrice Bienvenu and Deputy Country Manager Ndapewoshali Shapwanale briefed Namibian President Netumbo Nandi-Ndaitwah and her ministers on planned drilling activities on the margins, including local content initiatives focused on capacity building in Namibia.
