Equinor agrees to acquire 17.4% stake in Chevron-operated Namibia licence
Equinor has agreed to acquire a 17.4% participating interest in Petroleum Exploration Licence 90 in Namibia’s offshore Orange Basin from Chevron subsidiary Harmattan Energy. The transaction, which remains subject to regulatory approvals and completion, gives Equinor access to a drill-ready prospect scheduled for testing in 2026.
Equinor has signed an agreement with Harmattan Energy Limited to acquire a 17.4% participating interest in Petroleum Exploration Licence 90, marking the Norwegian energy company’s entry into Namibia. Closing remains subject to regulatory approvals and other completion processes, and the financial terms were not disclosed.
PEL 90 covers Block 2813B in the Orange Basin and is operated by Chevron. Before the transaction, Chevron subsidiary Harmattan Energy held 52.5%, while QatarEnergy held 27.5%, Trago Energy 10% and Namibia’s state-owned oil company NAMCOR 10%.
The licence includes a drill-ready prospect scheduled to be tested during 2026. That planned activity could become a near-term demand signal for drilling and offshore support services, although the announcement did not identify a rig, drilling contractor, vessel provider or detailed campaign schedule.