Chevron farms down interest in Petroleum Exploration License 90 in Namibia to Equinor
Business Reporter HARMATTAN Energy Limited, a Chevron subsidiary in Namibia, announced that it has reached an agreement with Equinor Energy International AS to farm out a 17.4 percent participating interest in Petroleum Exploration License (PEL) 90 in Block 2813B in Namibia’s Orange Basin. The closing of the transaction is subject to the licence’s pre-emption rights ... The post Chevron farms down interest in Petroleum Exploration License 90 in Namibia to Equinor appeared first on Informanté .
HARMATTAN Energy Limited, a Chevron subsidiary in Namibia, announced that it has reached an agreement with Equinor Energy International AS to farm out a 17.4 percent participating interest in Petroleum Exploration License (PEL) 90 in Block 2813B in Namibia’s Orange Basin.
The closing of the transaction is subject to the licence’s pre-emption rights and regulatory approvals.
“We are pleased to partner with Equinor offshore Namibia and are looking forward to using our joint capabilities and strategic partnership for the benefit of the country,” said Beatrice Bienvenu, Chevron Country Manager Namibia.
Bienvenu said that the agreement provides Equinor with the opportunity to participate in this high-potential hydrocarbon region, with the Nabba-1X exploration well to be spudded before the end of the year.
At completion, Harmattan Energy Limited will remain as operator of the licence, holding a 35.1 percent Working Interest (WI). QatarEnergy International E&P LLC will continue to hold a 27.5 percent WI, while Trago Energy (Proprietary) Limited and NAMCOR will each hold a 10 percent WI.
In addition to PEL 90, Chevron has an operated interest in PEL 82 (Blocks 2112B and 2212A, with an 80 percent working interest), located offshore Namibia in the Walvis Basin.
Picture for illustrative purposes only. Photo: iStock
