QatarEnergy secures stake in Namibia offshore block
Tribune News NetworkDOHAQatarEnergy entered into an agreement to acquire a participating interest in an offshore exploration block in Namibia from Chevron Namibia Exploration II Li...
QatarEnergy has secured a stake in an offshore exploration block in Namibia, entering into an agreement with Chevron Namibia Exploration II Limited. The terms of the agreement, which require regulatory approvals, grant QatarEnergy a 25 percent interest in Petroleum Exploration License 0082, encompassing blocks 2112B and 2212A. Upon finalization, Chevron will hold a 55 percent share, while Namcor E&P and Custos Energy will each own a 10 percent stake.
This move aims to strengthen the relationship between QatarEnergy and Chevron and expand the former's presence in Namibia. The PEL82 license covers an area of about 11,444 square kilometers offshore, spanning depths from 350 to 2,300 meters.
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