Equinor Enters Namibia with 17.4% Stake in Chevron Exploration Licence

Norway's Equinor has entered the Namibian market by acquiring a 17.4% stake in Chevron subsidiary Harmattan Energy's petroleum exploration licence (PEL 90) in the Orange Basin offshore Namibia.

The transaction marks Equinor's entry into Namibia and provides access to a drill-ready prospect scheduled for testing in 2026, according to the company's statement.

Before the deal, Chevron's subsidiary held an interest of 52.5% in PEL 90, with QatarEnergy holding 27.5%, Trago Energy with 10%, and state-owned oil company NAMCOR also owning a 10% share.