QatarEnergy acquires 25% interest in Namibia offshore PEL82
Key highlights
- QatarEnergy will acquire a 25% participating interest in Petroleum Exploration License 0082 (PEL82).
- The transaction is subject to customary regulatory approvals.
- Chevron will remain operator with a 55% interest; Namcor E&P and Custos Energy will each hold 10%.
- PEL82 covers about 11,444 square kilometres offshore Namibia in water depths of 350–2,300 metres.
Deal and ownership
QatarEnergy has agreed to acquire a 25% participating interest in Petroleum Exploration License 0082 (PEL82) from Chevron Namibia Exploration II Limited. Upon completion, Chevron will hold a 55% interest and remain operator, while Namcor E&P and Custos Energy will each hold 10%.
Approvals and next steps
The agreement is conditional on customary regulatory approvals. Partners plan to progress exploration activities in the license following completion of the transaction.
License details
PEL82 comprises blocks 2112B and 2212A and covers approximately 11,444 square kilometres offshore Namibia. Water depths across the license range from about 350 to 2,300 metres.
Source: QatarEnergy