Chevron Namibia Exploration II Limited is a Bermuda-incorporated subsidiary of Chevron Corporation, the major U.S.-based multinational energy company. It operates in the upstream oil and gas sector, primarily serving as a holding and operating entity for Chevron's offshore exploration interests in Namibia.
The company's main activities center on acquiring and managing participating interests in petroleum exploration licenses (PELs) offshore Namibia. It secured an 80% working interest and operatorship in Petroleum Exploration License 82 (PEL 82), encompassing blocks 2112B and 2212A in the Walvis Basin, through a farm-in completed in early 2025. The license area features substantial existing seismic coverage exceeding 3,500 km of 2D and 9,500 km² of 3D data, along with prior drilling such as the Murombe-1 and Wingat-1 wells. It also supports Chevron's activities in the Orange Basin via related entities.
Wholly owned by Chevron, the company partners with Namibia's National Petroleum Corporation (NAMCOR) and local explorers like Custos Energy. It advances Chevron's strategy of disciplined expansion into high-potential frontier basins, complementing the parent's global upstream portfolio. Operations emphasize exploration drilling and data acquisition in water depths ranging from hundreds to over 2,000 meters.
In the industry, Chevron Namibia Exploration II Limited helps position Chevron as a key international player in Namibia's emerging offshore sector, alongside majors exploring the Walvis and Orange Basins. Recent transactions, including interest transfers to partners like QatarEnergy, reflect active portfolio management in this promising region.
Also known as Chevron Namibia Exploration Limited II and CNEL.
None yet. When a new project in the record names Chevron Namibia Exploration II as owner, partner or investor, it shows here.
Deal leaves Chevron as operator with 55% while Namcor E&P and Custos Energy each hold 10%; PEL82 covers ~11,444 km² in 350–2,300 m water depths.
