Custos Energy confirmed Chevron’s acquisition of an 80% stake and operatorship in Namibia’s PEL 82, with Custos and NAMCOR each holding 10%.
PEL 82 covers blocks 2112B and 2212A in Namibia’s offshore Walvis Basin, one of the region’s most promising prospects.
Around 70% of the block is mapped with extensive seismic data, including over 3,500 km of 2D and 9,500 km² of 3D surveys.
Past drilling on PEL 82 includes the Murombe-1 and Wingat-1 wells.
Chevron’s acquisition of a stake in PEL 82 expands its offshore exploration portfolio in Namibia, where it also operates PEL 90 in the Orange Basin.In partnership with Trago Energy, a Custos subsidiary, and NAMCOR, Chevron drilled its first deepwater offshore well in PEL 90 in January.
While the well did not achieve the expected commercial success, it provided valuable insights into the basin’s key characteristics.Chevron’s PEL 82 acquisition supports its strategy to expand exploration in promising geological plays worldwide.
The successful completion of Chevron’s entry into PEL 82 further highlights the strong potential and high quality of our offshore portfolio,” said Knowledge Katti, Chairman and CEO of Custos.
He expressed enthusiasm about deepening the partnership with Chevron, emphasizing that this collaboration strengthens their position in exploring and developing another promising emerging basin in Namibia. Katti noted that the agreement aligns with their long-term vision of unlocking new energy opportunities and maximizing the potential of Namibia’s offshore resources.
