QatarEnergy, Chevron Expand Exploration Partnership offshore Namibia

SUBSCRIBE SEARCH ARTICLES NEWS QatarEnergy is entering into another partnership with Chevron offshore Namibia with the acquisition of a 25 percent stake in Petroleum Exploration License 82. Image by Jacob Wackerhausen via iStock

QatarEnergy is entering into another partnership with Chevron Corp offshore Namibia with the acquisition of a 25 percent stake in Petroleum Exploration License 0082 (PEL82).

Subject to regulatory approvals, the transaction will leave Chevron with 55 percent. The National Petroleum Corporation of Namibia (Namcor) and Custos Energy (Pty) Ltd each own 10 percent.

Spanning nearly11,450 square kilometers (about 4,420 square miles), PEL82 comprises blocks 2112B and 2212A. The water depth ranges from 350 meters (nearly 1,150 feet) to 2,300 meters, QatarEnergy noted.

QatarEnergy and Chevron are already partners in PEL90 offshore Namibia in the Orange Basin. QatarEnergy owns 27.5 percent, operator Chevron 52.5 percent, Namcor 10 percent and Custos 10 percent.

Earlier Chevron agreed to sell 17.4 percent in PEL90 to Equinor ASA. Chevron later signed an agreement to buy out Custos, a local player, for $11 million plus additional payments contingent on prospective production.

"The transaction marks Equinor's entry into Namibia and the license provides access to a drill-ready prospect scheduled for testing in 2026", Equinor said August.

Chevron said August it expects to begin drilling the Nabba-1X well under PEL90 before 2026 ends.

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PEL90, which covers Block 2813B, spans nearly 5,500 square kilometers, according to Chevron.

Elsewhere in the Southern African country QatarEnergy and its partners in PEL39 recently made a discovery that operator Shell PLC said delivered "the most promising subsurface results" from the license area.

Merlin-1X, the 10th well drilled under the license, "indicates good reservoir quality with light oil and limited associated gas, compared to prior results within the license", Shell reported last June.

"Further drilling later in 2026 is under consideration as part of a broader exploratory appraisal program", Shell added.

QatarEnergy president and chief executive Saad Sherida Al-Kaabi, who is also Qatar's energy minister, said, "These results represent a significant step that further strengthens confidence in the Orange Basin as an emerging world-class hydrocarbon province and align with QatarEnergy’s strategy to expand its international upstream portfolio through high-impact exploration".

Shell operates PEL39 with a 45 percent stake. QatarEnergy also owns 45 percent. Namcor holds 10 percent.

Elsewhere in Africa, QatarEnergy also recently expanded its partnership with Shell with the signing of an agreement for two blocks offshore Angola.

Under the agreement with Sociedade Nacional de Combustíveis de Angola EP (Sonangol) and the Central African country's National Agency for Oil, Gas and Biofuels, Shell will be operator with a 50 percent stake. QatarEnergy will own 30 percent and Sonangol 20 percent.

The agreement, announced September, is subject to governmental approvals and final contractual arrangements, QatarEnergy said.

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