BusinessQuiet 87d · day 89
Equinor acquires 17% stake in Chevron's Namibia deepwater exploration block
Norway's Equinor joins Chevron, QatarEnergy, and local firms in development of southern Africa's emerging oil hotspot.
What to know
- Equinor has taken a 17% stake in Chevron's deepwater exploration block off Namibia's coast, joining QatarEnergy and local Namibian firms as partners.
- The move reflects a broader international push to develop Namibia's offshore oil reserves, positioning the southern African country as an emerging major oil-producing region.
- Multiple global energy giants are now betting on Namibian offshore exploration, signaling confidence in the region's commercial potential.
“Norway's Equinor bought into Chevron's deepwater block off the coast of Namibia. Equinor took a 17% stake in the license, joining Chevron, QatarEnergy, and Namibian firms such as Trago Energy.”
Semafor · Mastodon/Threads · Aug 18
Equinor Norwegian energy companyChevron U.S. energy companyQatarEnergy Energy companyTrago Energy Namibian energy firm
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