Namibia’s National Petroleum Corporation (NAMCOR) and Chevron Namibia Exploration Limited (CNEL) have inked a deal granting Chevron an 80% operating working interest in an PEL 82 offshore Namibia.
Under the agreement, NAMCOR and local partner Custos Energy will maintain a 10% carried interest in the license situated in the Walvis Basin. The partnership underscores NAMCOR’s commitment to maximizing exploration of Namibia’s offshore resources, particularly in under-explored basins that hold significant upside.
According to NAMCOR Interim Managing Director Ebson Uanguta, the deal reflects the importance of leveraging global expertise and resources to advance national interests and development of the upstream sector.
“Our partnership with CNEL and Custos Energy represents a shared vision for the future of Namibia’s energy landscape,” Uanguta stated.
The agreement is subject to regulatory approvals from Namibia’s Ministry of Mines and Energy.
