Equinor Buys Into a Namibian Block With a Prospect Ready to Drill
Equinor is taking 17.4% of PEL 90 in Namibia's Orange Basin from a Chevron subsidiary, joining QatarEnergy and the state oil company ahead of a well planned for late 2026. The post Equinor Buys Into a Namibian Block With a Prospect Ready to Drill appeared first on The Rio Times .
Equinor has acquired a 17.4% stake in a Namibian oil block called PEL 90, located within the Orange Basin. The Norwegian company made the purchase from a Chevron subsidiary, Harmattan Energy Limited, on August 18, 2026. This deal gives Equinor access to a drill-ready prospect that is scheduled for testing in 2026, although a specific rig contract or spud date has not been announced yet.
The block is named Nabba-1X and is situated near other significant discoveries, such as the Mopane well owned by Trago Energy and the Venus discovery owned by TotalEnergies. The ownership of PEL 90 is unique, with Equinor, QatarEnergy, Trago Energy, and NAMCOR all holding significant stakes. This particular concentration of state-backed capital in a frontier basin is unusual and provides Windhoek, Namibia's government, with unusual leverage by negotiating with multiple parties at once.
The Orange Basin has been a celebrated frontier play in the past, but appraisal drilling since has been more mixed. Equinor is acquiring the stake after a disappointment, rather than during the initial euphoria, and the deal comes at a time when the Namibian government needed a vote of confidence.
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