QatarEnergy has finalised an agreement with Harmattan Energy Limited (HEL), a subsidiary of Chevron, to acquire a 27.5% working interest in Block 2813B (PEL0090) offshore Namibia. The deal further solidifies QatarEnergy’s upstream ambitions in the southern African nation, following its previous exploration successes in the region.
Under the terms of the agreement, HEL will retain a majority stake of 52.5% and will continue as the block’s operator. The remaining equity is shared equally between Trago Energy and the National Petroleum Corporation of Namibia (NAMCOR), with each holding a 10% interest.
Situated approximately 200 kilometres off Namibia’s coast, Block 2813B spans an expansive area of 5,433 square kilometres in water depths ranging from 2,400 to 3,300 metres. The block lies about 70 kilometres north of QatarEnergy’s Venus discovery, a significant find that has placed Namibia at the forefront of global oil and gas exploration.
Saad Sherida Al-Kaabi, QatarEnergy’s President and CEO and also Qatar’s Minister of State for Energy Affairs, underscored the significance of the acquisition. “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,” he stated.
Namibia has garnered increasing interest from major energy companies in recent years due to its untapped hydrocarbon potential. Block 2813B represents yet another opportunity for QatarEnergy to deepen its presence in this promising market, particularly as the nation continues to attract investment in offshore exploration.
While the agreement marks a notable milestone for QatarEnergy, it also reflects Chevron’s ongoing strategic commitment to advancing its global exploration activities in collaboration with trusted partners. For Namibia, the development is another testament to its growing reputation as a key destination for energy investment, with NAMCOR playing a pivotal role in these partnerships.
This transaction also highlights QatarEnergy’s strategy of aligning with global players to leverage emerging opportunities, positioning itself as a leader in offshore exploration. As the first exploration well is set to be drilled in the block, expectations are high for further discoveries that could bolster Namibia’s standing as a future energy hub.
