Equinor Dives into Namibian Oil Rush with Chevron Partnership

Equinor has entered the Namibian market through a deal with Chevron's subsidiary Harmattan Energy Limited. The Norwegian oil major acquired a 17.4% participating interest in Petroleum Exploration Licence 90 (PEL 90), which covers Block 2813B in the Orange Basin offshore Namibia.

The licence, operated by Chevron, allows access to a drill-ready prospect scheduled for testing in 2026. Prior to the transaction, Chevron's subsidiary held an interest of 52.5% in PEL 90, with other partners including QatarEnergy (27.5%), Trago Energy (10%), and NAMCOR (10%).

Equinor's executive vice president for Exploration & Production International, Philippe Mathieu, said the transaction aligns with their strategy to strengthen their international portfolio through focused growth.