Equinor to Enter Namibia by Joining Chevron Exploration Campaign

Equinor to Enter Namibia by Joining Chevron Exploration Campaign

Equinor signed an agreement to acquire a 17.4 percent stake in Petroleum Exploration License 90 on the Namibian side of the offshore Orange Basin from oper...

Norway enters race for Namibian oil

NORWEGIAN state oil company Equinor has entered the race for Namibian oil, investing in Chevron’s petroleum exploration licence in the Orange Basin. Equinor announced on Tuesday that it would enter Namibia’s petroleum sector, through a 17.4% stake in the licence. “This transaction aligns with our strategy to strengthen and replenish our international portfolio through focused and disciplined growth. Namibia is a promising basin that adds attract…

Equinor enters Namibia’s Orange Basin as major oil groups build exploration exposure

Equinor is expanding into Namibia’s Orange Basin through an agreement to acquire a 17.4% interest in Petroleum Exploration Licence 90, positioning the Norwegian energy group alongside Chevron and other established industry participants in one of the most closely watched offshore exploration areas. The transaction represents Equinor’s first upstream entry into a new country since its expansion into Argentina in 2017. That timing gives the deal ad…