Equinor Buys Into a Namibian Block With a Prospect Ready to Drill

NAMIBIA · ENERGY

Key Facts

—The deal: Equinor is acquiring a 17.4% participating interest in PEL 90, covering Block 2813B in Namibia’s Orange Basin, from Harmattan Energy, a Chevron subsidiary. It was announced on 18 August.

—Who else is in: Before the deal Chevron’s subsidiary held 52.5%, QatarEnergy 27.5%, Trago Energy 10% and the state oil company NAMCOR 10%.

—After the deal: Chevron falls to 35.1% and remains operator. Equinor takes 17.4% and the other holdings are unchanged.