QatarEnergy buying 25% interest in Namibian offshore exploration license from Chevron

Qatar’s state-owned oil & gas firm QatarEnergy has entered into an agreement with Chevron's Namibian subsidiary for the acquisition of a participating interest in an offshore exploration block in the Republic of Namibia.

Subject to customary regulatory approvals, the agreement will see QatarEnergy acquire a 25% interest in Petroleum Exploration License 0082 (PEL82), comprising blocks 2112B and 2212A, from Chevron Namibia Exploration II Limited.

Upon completion of the transaction, Chevron, as the operator, will hold a 55% interest, while Namcor E&P and Custos Energy will each hold a 10% interest.

The PEL82 exploration license covers an area of approximately 11,444 square kilometers, in water depths ranging from 350 to 2,300 meters.

This story was originally published by Offshore Energy. Read the full story at Offshore Energy →