QatarEnergy acquires 27.5% stake in Namibian offshore block

QatarEnergy is expanding its upstream portfolio in Namibia by acquiring a 27.5 per cent interest in Block 2813B (PEL0090) under a new agreement with Harmattan Energy Limited (HEL), a Chevron subsidiary, as per a statement released on Sunday.

HEL, the block’s operator, retains a 52.5 per cent stake, while Trago Energy Limited and Namibia’s state-owned NAMCOR each hold 10 per cent. The block, located 200 kilometres offshore Namibia and 70 kilometres from QatarEnergy’s Venus discovery, spans 5,433 km² at water depths of 2,400 to 3,300 metres.

Minister of State for Energy Affairs and QatarEnergy CEO Saad Sherida Al-Kaabi highlighted the company’s commitment to expanding its Namibian footprint and strengthening its partnership with Chevron. He added that exploration drilling on the block would commence soon, following successful operations in other Namibian acreage.

Attribution: QatarEnergy

Subediting: Y.Yasser