Equinor has signed an agreement with Harmattan Energy, a Chevron subsidiary in Namibia, to acquire a 17.4% participating interest in Petroleum Exploration Licence 90 (PEL 90) in the Orange Basin offshore Namibia.
The transaction marks 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.
Location of PEL 90 in the Orange Basin offshore Namibia
Source: Equinor
