KEY POINTS
- QatarEnergy secured a 27.5% stake in Namibia’s offshore Block 2813B, partnering with Chevron and local stakeholders for exploration.
- The block’s proximity to the Venus discovery highlights its strategic importance in Namibia’s burgeoning offshore energy potential.
- QatarEnergy’s expanded holdings align with its global strategy, including recent stake increases in Blocks 2913B and 2912 with TotalEnergies.
QatarEnergy has acquired a 27.5 percent working interest in Namibia’s offshore exploration Block 2813B (PEL0090), further solidifying its footprint in Africa’s burgeoning energy sector.
The state-owned energy giant entered into an agreement with Harmattan Energy, a Chevron subsidiary and operator of the block, which retains a 52.5 percent stake. Namibia’s National Petroleum Corporation and local oil firm Trago Energy each hold a 10 percent share, reflecting a balanced partnership aimed at tapping the region’s potential.
Strategic proximity to Venus discovery
Spanning 5,433 square kilometers in water depths ranging from 2,400 to 3,300 meters, Block 2813B lies approximately 200 kilometers offshore and 70 kilometers north of the Venus discovery—a significant find that has heightened global interest in Namibia’s offshore reserves.
“Following successful drilling operations in our other acreage in Namibia, we look forward to soon beginning drilling the first exploration well on this block,” remarked Saad bin Sherida al-Kaabi, Qatar’s Minister of State for Energy Affairs and President and CEO of QatarEnergy.
Accelerating investments in Namibia’s offshore potential
This latest acquisition, according to EnergyCapitalPower, builds on QatarEnergy’s strategic moves in Namibia. Last month, the company increased its stakes in Block 2913B to 35.25% and Block 2912 to 33.025%, partnering with operator TotalEnergies and other stakeholders.
These investments underscore QatarEnergy’s ambition to bolster its position in one of Africa’s most promising offshore basins, aligning with its broader global expansion strategy.
