Equinor Joins Namibian Offshore Oil Rush with Chevron Stake

Norwegian energy giant Equinor has joined BP in the Namibian offshore oil rush by acquiring a 17.4 percent stake in Chevron's Petroleum Exploration Licence 90.

The licence is located in the Orange Basin, which has become a hotspot for hydrocarbon discoveries over the past three years.

Equinor's move signals a vote of confidence in Namibia's geological potential and intensifies the global race to secure deepwater assets in southern Africa.

The stakes are high as Western nations seek to diversify their energy supply chains away from traditional producers, and stable African nations like Namibia have become increasingly strategic partners.