CVX · News · 20260819N

Namibia Exploration Partnership

CHEVRON CORP · 2026-08-19 · Importance 34 · Surprise 42

Equinor agreed to acquire a 17.4% participating interest in Petroleum Exploration Licence 90 (PEL 90) offshore Namibia from Chevron subsidiary Harmattan Energy Limited. Chevron will remain operator of the Orange Basin license after the transaction. PEL 90 includes a drill-ready prospect scheduled for testing in 2026, reducing Chevron’s exploration exposure while preserving operatorship and upside participation.

Key facts

• CVX's Namibia partnership with Equinor cuts exploration exposure while retaining operatorship, as the Nabba-1X well looms in 2026. source