QatarEnergy has expanded its footprint in Namibia’s offshore oil sector by acquiring a stake in a key block held by Chevron Corp. The state-owned energy company announced on Monday that it will purchase a 25% interest in Petroleum Exploration License 82 from Chevron’s local unit. This move strengthens QatarEnergy’s presence in Namibia, where it already holds stakes in several other blocks in partnership with TotalEnergies SE and Shell Plc.
The deal underscores Namibia’s growing appeal as an exploration hotspot for major energy firms. QatarEnergy’s latest acquisition follows its existing collaborations in the region, signaling confidence in the potential of Namibia’s offshore oil reserves. The transaction adds to the company’s portfolio of international energy assets, further diversifying its holdings.