Equinor Enters Namibia with Stake in Chevron-Operated Offshore Block

Equinor has entered Namibia's oil market by acquiring a stake in Chevron-operated offshore block PEL 90. The company is taking a 17.4% participating interest from Harmattan Energy Limited, a Chevron subsidiary.

The block includes a drill-ready prospect set to be tested in 2026 and covers part of the Orange Basin in Namibia's offshore region.

Chevron operates PEL 90 with its Namibian subsidiary holding a 52.5% interest before the transaction, while QatarEnergy has a 27.5%, Trago Energy holds 10%, and state-owned NAMCOR also has 10%.