Chevron has strengthened its position in Namibia’s offshore sector by acquiring an 80% stake and operatorship in Petroleum Exploration License (PEL) 82. Custos Energy and NAMCOR will each retain a 10% interest in the license.
Located in Namibia’s Walvis Basin, PEL 82 is part of a region often referred to as an “oil kitchen” due to its rich hydrocarbon source rock and strong potential for commercial discoveries.
The Barremian-Aptian source rock, a key driver of oil generation in the basin, enhances its geological significance.
The license covers blocks 2112B and 2212A, with 70% of the area mapped using advanced seismic surveys.
With over 3,500 km of 2D and 9,500 km² of 3D seismic data, previous wells such as Murombe-1 and Wingat-1 have provided valuable geological insights.
Chevron’s move into PEL 82 aligns with its broader exploration strategy in high-potential basins. This acquisition complements its existing PEL 90 operations in the Orange Basin, further solidifying Namibia’s position as a key frontier for oil and gas development.
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