QatarEnergy has agreed to acquire a 25% participating interest in Namibia’s Petroleum Exploration Licence 0082 (PEL82) from Chevron, expanding its offshore exploration interests in the country.
The agreement, announced on Monday, 9 November 2026, involves blocks 2112B and 2212A, covering approximately 11,444 square kilometres offshore Namibia in water depths ranging from 350 to 2,300 metres.
According to QatarEnergy, the transaction remains subject to customary regulatory approvals.
Once completed, Chevron Namibia Exploration II Limited, a subsidiary of Chevron, will retain a 55% participating interest and continue operating the licence, while Namibia’s national oil company, NAMCOR, through Namcor E&P, and Custos Energy will each hold 10%.
QatarEnergy’s Minister of State for Energy Affairs, president and chief executive, Saad Sherida Al-Kaabi, said the agreement would strengthen the company’s relationship with Chevron while expanding its exploration interests in Namibia.
“We are pleased to further strengthen our relations with Chevron through this agreement, and to expand and diversify our footprint in Namibia. We would like to thank the Namibian authorities for their cooperation and support, and we look forward to working with our partners to progress exploration activities and achieve positive results for the benefit of all stakeholders.”
The transaction will introduce QatarEnergy as a partner in the Chevron-operated exploration licence, subject to regulatory approval, while leaving Chevron with majority ownership and operational control.
QatarEnergy did not disclose the financial value of the transaction or provide a timetable for completing
