QatarEnergy has entered into an agreement with Harmattan Energy Limited (HEL), an indirect subsidiary of Chevron Corporation, to acquire a working interest in the Petroleum Exploration License and Petroleum Agreement for Block 2913B (PEL0090), offshore Namibia.
Pursuant to the agreement, QatarEnergy will acquire a 27.5% interest, while HEL, the operator, will retain a 52.5% interest.
The other partners in the block are Trago Energy Limited and the National Petroleum Corporation of Namibia (NAMCOR), each holding a 10% interest.
Block 2913B is home to the Venus discovery, widely regarded as one of the most promising hydrocarbon finds in recent years.
“We are pleased to expand QatarEnergy’s footprint in Namibia’s upstream sector. This agreement marks another important step in working collaboratively with our partners towards the development of the Venus discovery located on Block 2913B,” Saad Sherida Al-Kaabi, Minister of State for Energy Affairs and President and CEO of QatarEnergy, said on the transaction.
“I would like to take this opportunity to thank the Namibian authorities and our partners for their support, and we look forward to delivering on our exploration and potential development program.” Blocks 2913B and 2912 are located approximately 300 kilometers offshore Namibia, in water depths ranging from 2,600 to 3,800 meters.
