QatarEnergy has entered into an agreement with Harmattan Energy Limited (HEL), an indirect subsidiary of Chevron, to acquire a working interest in an oil and gas block offshore Namibia.
Pursuant to the agreement, QatarEnergy will acquire a 27.5% interest, while HEL (the operator) will retain a 52.50% interest in Block 2813B (PEL0090), offshore Namibia.
The other partners on the block are Trago Energy and the National Petroleum Corporation of Namibia (NAMCOR), each holding a 10% interest.
“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,” said Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy.
Block 2813B (PEL0090) lies about 200 kilometers offshore Namibia and approximately 70 kilometers north of QatarEnergy’s Venus discovery.
The License covers an area of 5,433 km2, in water depth of 2,400 to 3,300 meters.