Equinor Enters Namibian Market with Chevron Joint Venture

Equinor has expanded its international portfolio by acquiring a stake in Petroleum Exploration Licence 90 in Namibia. The company signed an agreement with Harmattan Energy Limited, a subsidiary of Chevron, to take on a 17.4% participating interest in the licence.

The licence, which covers Block 2813B in the Orange Basin offshore Namibia, is operated by Chevron and provides access to a drill-ready prospect scheduled for testing in 2026.

Namibia's promising basin offers attractive option value to Equinor's portfolio and complements its broader Atlantic Margin position, according to Philippe Mathieu, executive vice president for Exploration & Production International.