QatarEnergy Acquires 25% Interest in Namibia's PEL 82 from Chevron

QatarEnergy has acquired a 25% participating interest in Petroleum Exploration Licence 82 (PEL 82) offshore Namibia from Chevron. This transaction reduces Chevron's stake in PEL 82 from 80% to 55%, with Chevron remaining the operator. QatarEnergy joins as a partner in exploration activities. Custos Energy retains a 10% interest, while Sintana Energy maintains its 49% indirect interest in Custos. NAMCOR also holds a 10% stake.

The deal, pending customary regulatory approvals, does not disclose financial terms. PEL 82 spans approximately 11,450 km² in the Walvis Basin. No reserves or resources have yet been attributed. Robert Bose, CEO of Sintana, welcomed QatarEnergy’s involvement, viewing it as an endorsement of PEL 82's potential.