The transaction marks Equinor’s entry into Namibia and the license 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 license 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 license 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.
