Chevron expands in Namibia with offshore farm-in

Namibia

WINDHOEK, April 29, 2024 – Chevron has signed a deal with NAMCOR to develop an offshore block in the Walvis Basin, the Namibian NOC was cited by Reuters as saying on Monday.

The US company will hold an 80% operating working interest in offshore PEL 82.

NAMCOR and local player Custos Energy will each retain a 10% interest in the licence.

A spokesperson for Chevron told Reuters that the company plans to drill an exploration well in the licence in Q4 of this year.

The farm-in marks an expansion of Chevron’s footprint in the oil hotspot, building on its operatorship of the deepwater PEL 90 asset in the prolific Orange Basin.

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