Namibia: Equinor acquires 17.4% of the offshore oil license PEL 90.
The Norwegian group Equinor announced on Tuesday, August 18, 2026, the acquisition from a subsidiary of Chevron of a 17.4% stake in the offshore oil license PEL 90, off the coast of Namibia. This operation marks Equinor’s entry into the country and remains subject to regulatory approvals.
SUMMARY
The license covers block 2813B, in the Orange Basin, south of the Namibian coast. Chevron, through Harmattan Energy, remains the operator. The amount of the transaction has not been made public.
The partners are preparing to drill the exploration well Nabba-1X, scheduled for the fourth quarter of 2026 according to documents from Sintana Energy. Equinor indicates that this prospect must be tested before the end of the year.
Prior to the agreement announced with Equinor, Harmattan Energy held 52.5% of the license, QatarEnergy 27.5%, the public company NAMCOR 10%, and Trago Energy 10%, according to the quarterly report published by Sintana Energy. The transfer will reduce Chevron’s stake after finalization.
Equinor’s First Namibian Asset
The PEL 90 block had already been explored with the Kapana-1X well, drilled in 2025. This drilling did not highlight a commercial accumulation of hydrocarbons, but the partners continued to evaluate other geological structures within the license.
The area benefits from the interest generated by several discoveries made further south in the Orange Basin. International companies are multiplying seismic studies and drilling, while Namibia has yet to produce oil on a commercial scale.
Equinor has presented this stake as a step intended to expand its exploration portfolio. The effective realization of the operation still depends on the agreement of the Namibian authorities and the usual closing conditions.
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