Equinor Enters Namibia with Stake Acquisition in PEL 90
Equinor has entered Namibia's oil and gas market by acquiring a 17.4 percent stake in Petroleum Exploration License (PEL) 90, operated by Chevron Corp. This marks Equinor's entry into the country.
The license covers Block 2813B and includes access to a drill-ready prospect that is scheduled for testing in 2026. The Norwegian energy major's executive vice president for international exploration and production, Philippe Mathieu, said this transaction aligns with their strategy of strengthening and replenishing their international portfolio.
Namibia has attracted growing industry interest following significant discoveries by Shell and TotalEnergies in the Orange Basin. Equinor says it recognizes Namibia as a basin with substantial long-term potential. Chevron currently owns 52.5 percent of the license, while QatarEnergy holds 27.5 percent.