QatarEnergy expands Namibia upstream footprint
DOHA, 3 days ago
QatarEnergy has entered into an agreement with Harmattan Energy (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 per cent interest, while HEL (the operator) will retain a 52.50 per cent interest. The other partners on the block are Trago Energy and the National Petroleum Corporation of Namibia (NAMCOR), each holding a 10 per cent interest.
Saad 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.”
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 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. -TradeArabia News Service
