Equinor has signed an agreement with Harmattan Energy, a Chevron subsidiary in Namibia, to acquire a 17.4 per cent 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 per cent in PEL 90, with the other partners in the licence being QatarEnergy (27.5 per cent), Trago Energy (10 per cent) and the state-owned oil company NAMCOR (10 per cent).

The closing of the transaction is subject to regulatory approvals and completion processes. -OGN/TradeArabia News Service