Namibia's state-owned oil company and Chevron sign deal, granting Chevron 80% operating interest in offshore block.
Namibia's state-owned oil company and Chevron have signed a deal giving the U.S. oil firm an 80% operating working interest in an offshore block in the southern African country. Namibia's National Petroleum Corporation (NAMCOR) and local player Custos Energy will each retain a 10% carried interest in Petroleum Exploration License 82 located in the Walvis Basin. The transaction is pending regulatory approvals from the Namibia Ministry of Mines and Energy.
April 29, 2024
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