Chevron joins exploration boom in Namibia

Namibia

WINDHOEK, October 7, 2022 – US super-major Chevron has signed a deal with Sintana Energy for a majority share in the PEL 90 oil and gas play in the Orange Basin offshore Namibia, the Canadian independent announced today.

Under the deal, Chevron’s subsidiary Chevron Namibia Exploration will take an 80% share in the licence from Sintana Energy’s Namibian subsidiary Trago Energy, which will retain a 10% share.

Chevron will lead exploration activities including 3D seismic studies and drilling of an initial exploration well.

Cost of the transaction was not disclosed.

The deepwater asset lies in Block 2813B just north of the TotalEnergies-operated Venus play, which hit a significant discovery in February 2022.

Previous

OPEC+ agrees to deep cut on oil production

Next

ADNOC signs $1.5-million drilling contract