QatarEnergy to enlarge its Namibian oil & gas portfolio by joining Chevron’s offshore block

Qatar’s state-owned energy giant QatarEnergy has set the stage to get a stake in an exploration block off the coast of Namibia, thanks to a deal with Harmattan Energy Limited (HEL), an indirect subsidiary of Chevron Corporation.

The deal allows QatarEnergy to acquire a 27.5% working interest in the petroleum exploration license and petroleum agreement for Block 2813B in PEL 0090, expanding its upstream footprint offshore Namibia. HEL as the operator will retain a 52.50% interest while other partners on the block, Trago Energy and the National Petroleum Corporation of Namibia (NAMCOR), each hold a 10% interest.

Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs, President and CEO of QatarEnergy, commented: “This agreement demonstrates our commitment to continue expanding our upstream footprint in Namibia, and the strengthening of our partnership with our valued partner Chevron.

“Following successful drilling operations in our other acreage in Namibia, we look forward to soon begin drilling the first exploration well on this block. I would like to take this opportunity to thank the Namibian authorities and our partners for their support.”

Located about 200 kilometers offshore Namibia and approximately 70 kilometers north of TotalEnergies’ Venus discovery, in which QatarEnergy is boosting its ownership interest, Block 2813B’s license covers an area of 5,433 kilometers in a water depth of 2,400 to 3,300 meters.

In addition, Africa Oil Corp. also augmented its ownership interest in Impact Oil & Gas, securing a larger stake in the block with the Venus oil discovery. Recently, TotalEnergies kicked off exploration activities on Block 2913B, beginning to drill a prospect north of the giant Venus accumulation, with potential follow-on drilling to the south of Venus also on the cards. 

In April 2024, Chevron Namibia Exploration Limited (CNEL), an affiliate of the U.S.-headquartered Chevron, enriched its offshore oil and gas portfolio in Africa with the entrance into a new license offshore Namibia, adding two blocks to its operated assets.

According to Westwood, the recent string of discoveries in Namibia’s Orange Basin demonstrate the existence of significant volumes of hydrocarbons yet to be found.