Equinor Eyes Major Oil Discovery Offshore Namibia

Norway's energy giant Equinor is optimistic about making a significant oil discovery offshore Namibia, according to a senior official. Philippe Mathieu, Executive Vice President of Exploration & Production International at Equinor, revealed this hope during a recent energy conference in Norway. Equinor recently entered the Namibian exploration race by signing an agreement with Harmattan Energy Limited, a Chevron subsidiary in Namibia, to acquire a 17.4% interest in Petroleum Exploration License 90 (PEL 90) in the Orange Basin.

This move marks Equinor's entry into Namibia, and the license offers access to a drill-ready prospect slated for testing in 2026. Mathieu emphasized that this transaction aligns with Equinor's strategy to bolster and refresh its international portfolio through strategic, disciplined growth. Equinor is the most recent international energy major to join the Namibia exploration drive, which has already seen major discoveries by TotalEnergies, Galp, and Shell in recent years.