Chevron Expands Namibian Offshore Presence with PEL 82 Acquisition
Namibian oil and gas exploration firm Custos Energy has finalized a farm-in agreement with Chevron Namibia Exploration II, a subsidiary of Chevron, for Petroleum Exploration License 82 (PEL 82). Under the deal, Chevron acquires an 80% participating interest and assumes operatorship of the offshore block. Custos Energy and Namibia’s state-owned NAMCOR each retain a 10% stake. Custos views PEL 82, covering blocks 2112B and 2212A in the Walvis Basin, as one of Namibia’s most promising
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