Markets
QatarEnergy acquires stake in Namibia petroleum licence
QatarEnergy has secured a significant participating stake in an offshore block operated by Chevron in Namibia.
Key points
- QatarEnergy acquires a 25 percent stake in Petroleum Exploration Licence 82.
- Chevron retains operatorship with a 55 percent interest in the block.
- Namibia continues to attract major international energy investments.
What happened
According to the African Energy Chamber, QatarEnergy has reached an agreement to take a 25 percent interest in an offshore exploration block in Namibia. The transaction involves Petroleum Exploration Licence 82, located within the Walvis Basin. Chevron remains the operator of the block, holding a 55 percent share following the agreement.
Additional stakeholders in the license include the National Petroleum Corporation of Namibia and Custos Energy, each maintaining a 10 percent share. The acreage covers roughly 11,444 square kilometers across blocks 2112B and 2212A, with depths reaching up to 2,300 meters. This development expands QatarEnergy's regional footprint, bringing its total portfolio in the country to five offshore licenses spanning approximately 45,000 square kilometers.
African Energy Chamber Executive Chairman NJ Ayuk stated that the transaction reflects strong global confidence in the country's hydrocarbon sector, noting that partnerships bring essential capital and technology to transform geological potential into active production.
Exploration momentum
Namibia's upstream sector has experienced a surge in activity, drawing interest from several major international operators. TotalEnergies and Shell are advancing their respective offshore projects, while Equinor also established a local presence through a recent transaction. These cumulative developments highlight the country's rising prominence as a notable frontier for exploration.
Industry stakeholders emphasize that expanding offshore operations must coincide with robust domestic participation. Fostering local engineering, logistics, and technical training will be vital for translating resource discoveries into broader economic growth.
Why it matters
For energy investors and regional policymakers, Namibia's emergence as an oil and gas destination demonstrates how stable regulatory environments can attract international capital. According to World Bank figures from 2024, Namibia has an electricity access rate of 59.3 percent, trailing the global average of 91.9 percent, while electricity use per person stands at 1,246.2 kWh compared to a global figure of 3,708.5 kWh. Furthermore, fuel exports accounted for only 1.3 percent of the nation's merchandise exports in 2024, contrasting sharply with the global average of 9.5 percent.
These indicators illustrate why scaling up the petroleum sector is viewed by local authorities and industry advocates as a vital catalyst for broader industrialization, job creation, and economic transformation. As frontier basins attract multibillion-dollar investments from entities like QatarEnergy and Chevron, successful execution will depend on developing local institutional capacity and ensuring meaningful participation across the energy supply chain.
Original reporting
This article draws on the following reports. Read them in full on the publishers’ sites.
Context from CEII
Exchange rates and the cost of capital shape every energy project, especially in emerging markets where equipment is priced in dollars.
₦1,350.42 per US dollar, reference rate todayCountries in this story
Written by the CEII Desk, the Centre’s automated newsroom, from the reporting credited above and CEII’s own data. Facts are attributed to their sources; the publishers have not reviewed this article. Spotted an error? Tell our editors.
