QatarEnergy expands Namibia upstream footprint

QatarEnergy entered into an agreement with Harmattan Energy Limited (HEL), an indirect subsidiary of Chevron Corporation, to acquire a working interest in the Petroleum Exploration License and Petroleum Agreement for Block 2813B (PEL0090), offshore Namibia. 

Pursuant to the agreement, QatarEnergy will acquire a 27.5% interest, while HEL (the operator) will retain a 52.50% interest. The other partners on the block are Trago Energy Limited and the National Petroleum Corporation of Namibia (NAMCOR), each holding a 10% interest.

Commenting on this occasion, His Excellency Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, said: “This agreement demonstrates our commitment to continue expanding our upstream footprint in Namibia, and the strengthening of our partnership with our valued partner Chevron.”

His Excellency Minister Al-Kaabi added: "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.”

Block 2813B (PEL0090) lies about 200 kilometres offshore Namibia and approximately 70 kilometres north of QatarEnergy’s Venus discovery. The License covers an area of 5,433 km², in water depth of 2,400 to 3,300 metres.