LE BRIEF

Namibia: QatarEnergy signs agreement to acquire 25% of offshore licence PEL82

LE BRIEF • 2026-11-09

The Qatari group is strengthening its Chevron partnership through PEL82. The transaction, whose value has not been disclosed, remains subject to regulatory approvals.

QatarEnergy has signed an agreement with Chevron Namibia Exploration II to acquire 25% of offshore petroleum exploration licence PEL82 in Namibia. Announced on 9 November, the transaction expands the Qatari group’s African exploration presence and strengthens its partnership with the US company. The licence comprises blocks 2112B and 2212A and covers approximately 11,444 square kilometres. Water depths range from 350 to 2,300 metres, placing some potential operations in technically and financially demanding offshore conditions. Chevron would retain operatorship Following completion, Chevron would hold 55% and remain operator. QatarEnergy would own 25%, while NAMCOR E&P and Custos Energy would each retain 10%. Participation by Namibia’s national company preserves a public-sector presence in the partnership. The transaction remains subject to customary regulatory approvals and closing conditions. Its price has not been disclosed. Signing an agreement therefore does not mean that the interest transfer has already been completed. An exploration position, not a new discovery Namibia attracts major companies because of the prospects offered by its offshore basins. A partner with financial resources and international experience can help share risk and prepare future campaigns. PEL82 nevertheless remains an exploration asset. The agreement is neither a new discovery announcement...