The Namibia National Petroleum Corporation (NAMCOR) and Chevron announced a new collaboration agreement, through which the American multinational will acquire an 80% operating interest in a maritime block located in the Walvis basin.
A maritime block with potential reserves
This agreement adds a clause in which both NAMCOR and Custos Energy , a local company, will retain 10% each in the oil exploration license of the area designated as PEL 82. This decision stands out amid the growing interest on the part of major oil companies in Namibia, attracted by recent discoveries in African deep waters.
Likewise, the Chevron company operates another block in the region known as PEL 90, located in the Orange basin, and has announced plans to drill a new exploratory well during the last quarter of the year . This fact could further consolidate its presence in the region and boost resource extraction in an area already marked by previous discoveries by other giants such as TotalEnergies and Shell.
For his part, the Acting Director General of NAMCOR, Ebson Uanguta, was optimistic about the alliance, highlighting that ” this collaboration with Chevron and Custos Energy reflects a shared commitment towards the development and transformation of the energy sector in Namibia .” Uanguta stressed the importance of these projects for the energy future of the country, which seeks to start its oil and gas production by 2030.
The global implications of these agreements, Namibia is positioned as an emerging player in the global oil industry. With a strategic location and deposits, the country could become a new reference point for investments in oil exploration and production in the region.
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Source: naturalgasworld.com
Photo: Shutterstock
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