Norwegian Energy Firm Joins Chevron in Namibia’s Orange Basin Oil Exploration
Norwegian energy company Equinor has joined Chevron in Namibia’s Orange Basin, adding another major international player to the country’s growing offshore oil and gas exploration sector.
Equinor has acquired a 25% interest in Petroleum Exploration Licence 90 (PEL 90) from Chevron subsidiary Chevron Namibia Exploration Ltd, which will remain operator with a 55% stake. Custos Energy holds the remaining 20% interest.
The transaction is subject to regulatory approval and adds Equinor to a partnership exploring a licence area covering approximately 11,000 square kilometres offshore southern Namibia.
The Orange Basin has emerged as one of Africa’s most closely watched exploration regions following a series of major discoveries by international energy companies.
Its potential has attracted significant investment as companies search for new oil and gas resources.
For Equinor, the entry into PEL 90 expands its presence in Namibia and provides exposure to one of the world’s most promising emerging offshore basins.
The company already has experience in deepwater exploration and production in several international markets.
Chevron has been active in Namibia since entering the country in 2022. The company has conducted exploration activity in the Orange Basin, including drilling campaigns designed to assess the region’s hydrocarbon potential.
The partnership will focus on further exploration and appraisal work within PEL 90. The licence contains several prospective structures, and additional technical studies and drilling will be required to establish the size and commercial viability of any resources.
Namibia has attracted increasing attention from global oil companies following significant offshore discoveries in the Orange Basin. Companies including TotalEnergies, Shell and Chevron have invested heavily in exploration programmes in the region.
The growing participation of international energy companies could bring additional investment, technical expertise and offshore development capabilities to Namibia.
However, the commercial development of discoveries will depend on further appraisal, project economics, infrastructure and regulatory approvals.
Equinor’s entry into PEL 90 further highlights the strategic importance of Namibia’s offshore resources and the Orange Basin’s growing role in Africa’s oil and gas exploration landscape.
