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QatarEnergy acquires stake in offshore Namibia block

By Pramod Kumar
QatarEnergy will soon begin drilling the first exploration well on Block 2813B offshore Namibia Unsplash/Arvind Vallabh
QatarEnergy will soon begin drilling the first exploration well on Block 2813B offshore Namibia

State-backed QatarEnergy has agreed to acquire a 27.5 percent interest in Block 2813B offshore Namibia from Harmattan Energy Limited (HEL), an indirect subsidiary of US company Chevron Corporation.

HEL is the operator of the block and will retain a 52.5 percent interest. Trago Energy Limited and the National Petroleum Corporation of Namibia are the other partners, each holding a 10 percent interest.

No financial details were disclosed.

Saad Al-Kaabi, CEO of QatarEnergy, said the company will soon begin drilling the first exploration well on the block following successful drilling operations on other acreage in Namibia.

Block 2813B is 200 km off Namibia and 70 kilometres north of QatarEnergy’s Venus discovery. The license covers an area of 5,433 sq km in water depth of 2,400 to 3,300 meters.

In November, QatarEnergy signed an agreement with France’s TotalEnergies to acquire additional stakes in two exploration blocks in the Orange Basin, off Namibia.

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