QatarEnergy has agreed to acquire a 25% participating interest in Namibia’s offshore Petroleum Exploration Licence 0082 (PEL82) from Chevron Namibia Exploration II Limited, expanding its exploration portfolio in the country.
The transaction, announced on Monday, 9 November 2026, is subject to customary regulatory approvals.
Under the agreement, Chevron will retain a 55% participating interest and continue as operator of the licence, while the National Petroleum Corporation of Namibia’s exploration and production subsidiary, Namcor E&P, and Custos Energy will each hold 10%.
PEL82 comprises offshore blocks 2112B and 2212A, covering approximately 11,444 square kilometres in water depths ranging from 350 to 2,300 metres.
The acquisition will give QatarEnergy a minority interest in the Chevron-operated exploration acreage as the company expands its upstream oil and gas interests offshore Namibia.
QatarEnergy President and Chief Executive Officer Saad Sherida Al-Kaabi said the transaction would strengthen the company’s existing relationship with Chevron and broaden its exploration portfolio in Namibia.
“We are pleased to further strengthen our relations with Chevron through this agreement, and to expand and diversify our footprint in Namibia,” Al-Kaabi said.
He also acknowledged the cooperation of Namibian authorities in facilitating the agreement and expressed confidence in the partnership’s exploration prospects.
“We look forward to working with our partners to progress exploration activities and achieve positive results for the benefit of all stakeholders,” he said.
The transaction will leave Chevron with majority ownership and operational control of PEL82, while QatarEnergy joins the licence alongside Namcor E&P and Custos Energy.
The agreement represents a further expansion of QatarEnergy’s upstream exploration interests in Namibia, where international oil and gas companies continue to pursue offshore hydrocarbon resources.
Completion of the acquisition remains dependent on the necessary regulatory approvals.
