QatarEnergy to Acquire 25% Interest in Chevron's Namibia Offshore License

QatarEnergy has signed an agreement to acquire a 25% participating interest in an offshore exploration license in Namibia from a Chevron subsidiary, expanding its exploration interests in the country.

The agreement with Chevron Namibia Exploration II Limited covers Petroleum Exploration License 0082 (PEL82), comprising blocks 2112B and 2212A.

Upon completion, Chevron will retain a 55% participating interest and remain the operator, while Namcor E&P and Custos Energy will each hold a 10% interest.

PEL82 covers approximately 11,444 square kilometers offshore Namibia, in water depths ranging from 350 to 2,300 meters.

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