Chevron considers drilling exploration well off Namibia
Chevron is considering drilling an exploration well in the Walvis Basin off the coast of Namibia in 2026 or 2027, the U.S. oil major said on Thursday.
Chevron Namibia Exploration Limited said it is maturing its prospect portfolio offshore Namibia, a southern African country that has become a global exploration hotspot.
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The exploration well will be drilled in Petroleum Exploration License 82 in the Walvis Basin, a vast area north of the prolific Orange Basin where all of Namibia's offshore discoveries have been made by companies including TotalEnergies and Shell and Galp.
"With this programme, Chevron continues to activate its strong and growing exploration portfolio," a company statement said. In January, Chevron said its first well in the Orange Basin did not find commercial hydrocarbon reserves.
Meanwhile, Namibia's national oil company (NAMCOR) has signed a development deal with Chevron that will see the U.S. oil major take an 80% operating working interest in an offshore block in the Walvis Basin, NAMCOR said on Monday.
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 Namibia (NAMCOR) and local company Custos Energy each retain a 10% interest in petroleum exploration license 82.
"Chevron looks forward to working with our partners to continue exploration activities and support Namibia’s energy sector," a spokesperson said.
In addition to this acquisition, Chevron Namibia Exploration Ltd is the operator of the PEL 90, an offshore deepwater block located in the prolific Orange Basin where Galp (GALP.LS), opens new tab also made a large discovery earlier this month.
Chevron Namibia Exploration Limited said it is maturing its prospect portfolio offshore Namibia, a southern African country that has become a global exploration hotspot.
The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here.
The exploration well will be drilled in Petroleum Exploration License 82 in the Walvis Basin, a vast area north of the prolific Orange Basin where all of Namibia's offshore discoveries have been made by companies including TotalEnergies and Shell and Galp.
"With this programme, Chevron continues to activate its strong and growing exploration portfolio," a company statement said. In January, Chevron said its first well in the Orange Basin did not find commercial hydrocarbon reserves.
Meanwhile, Namibia's national oil company (NAMCOR) has signed a development deal with Chevron that will see the U.S. oil major take an 80% operating working interest in an offshore block in the Walvis Basin, NAMCOR said on Monday.
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 Namibia (NAMCOR) and local company Custos Energy each retain a 10% interest in petroleum exploration license 82.
"Chevron looks forward to working with our partners to continue exploration activities and support Namibia’s energy sector," a spokesperson said.
In addition to this acquisition, Chevron Namibia Exploration Ltd is the operator of the PEL 90, an offshore deepwater block located in the prolific Orange Basin where Galp (GALP.LS), opens new tab also made a large discovery earlier this month.
