QatarEnergy Acquires 27.5% Stake in Namibia Block

QatarEnergy has acquired a 27.5% working interest in offshore Block 2813B (PEL0090) in Namibia, enhancing its upstream exploration portfolio. The agreement with Harmattan Energy Limited (HEL), a subsidiary of Chevron, allows HEL to maintain a 52.5% operating interest, while Trago Energy Limited and the National Petroleum Corporation of Namibia each hold a 10% stake. Saad Sherida Al-Kaabi, QatarEnergy's CEO, emphasized the company's commitment to expanding its presence in Namibia and expressed gratitude to local authorities and partners. The block is located 200 kilometers offshore and covers an area of 5,433 square kilometers, with water depths ranging from 2,400 to 3,300 meters. This acquisition follows QatarEnergy's recent agreement with TotalEnergies to increase its stakes in two other offshore blocks in Namibia's Orange Basin. QatarEnergy plans to commence drilling the first exploration well on Block 2813B soon, building on successful operations in the region.