Chevron Secures Major Stake in Namibian Offshore Block
Chevron and Namibia’s national oil company (NAMCOR) have signed a development agreement, with Chevron securing an 80% operating working interest in an offshore block within the Walvis Basin. Oil companies are flocking to Namibia, excited by the southern African country’s plans to open up a major new frontier basin, with recent offshore finds ranking among the largest this century. The farm-out agreement with Chevron Namibia Exploration Limited (CNEL) will see the National Petroleum Corporation of
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