Equinor set to join Chevron in drilling offshore Namibia

Equinor will acquire a 17.4% interest in Chevron-operated PEL 90 offshore Namibia, gaining exposure to a planned Orange Basin exploration well.
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Aug. 19, 2026
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Why this news matters:

  • Equinor is adding Namibia exposure at a time when the Orange Basin continues to attract global investment following multiple high-profile offshore discoveries. 

  • The transaction gives Equinor participation in a near-term exploration well, providing a potentially important test of remaining prospectivity in the basin.

 

Image generated by Microsoft Copilot
AI-generated offshore Namibia exploration drilling activity

An offshore drilling vessel operating off the coast of Namibia is representative of exploration activity in the Orange Basin, where Equinor has agreed to acquire a stake in Chevron-operated PEL 90 ahead of a planned exploration well later this year.

Equinor has agreed to acquire a 17.4% interest from Chevron subsidiary Harmattan Energy in a petroleum exploration license (PEL) offshore Namibia.

The PEL 90 concession in the Orange Basin marks Equinor’s entry into Namibia, subject to regulatory approvals.

The Orange Basin has emerged as a global exploration hotspot following a series of major discoveries by Shell, TotalEnergies and their partners offshore Namibia since 2022. Those finds have attracted a growing list of international operators and investors seeking exposure to what could become one of the world's next major offshore petroleum provinces.

PEL 90 includes a drilling prospect scheduled for testing later this year.

“Namibia is a promising basin that adds attractive option value to our portfolio and complements our broader Atlantic Margin position,” said Philippe Mathieu, Equinor's executive vice president for Exploration & Production International.

Prior to the transaction, Harmattan had a 52.5% operated interest in PEL 90, in partnership with QatarEnergy (27.5%), Trago Energy (10%) and NAMCOR (10%).

Following completion of the transaction, Chevron is expected to remain operator of PEL 90. 

Courtesy Equinor
Map: Namibia's offshore Orange Basin and PEL 90

This map of Namibia's offshore Orange Basin highlights PEL 90, where Equinor plans to acquire a 17.4% stake ahead of a scheduled exploration well. 

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About the Author

Jeremy Beckman
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Jeremy Beckman

Staff Writer / Editor, Europe

Jeremy Beckman has been Editor Europe, Offshore since 1992. Prior to joining Offshore he was a freelance journalist for eight years, working for a variety of electronics, computing and scientific journals in the UK. He regularly writes news columns on trends and events both in the NW Europe offshore region and globally. He also writes features on developments and technology in exploration and production.

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