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Equinor to Acquire Stake in Chevron's Namibia Exploration License

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Equinor (EQNR) said Tuesday it signed an agreement with Chevron's (CVX) Harmattan Energy unit to acquire a 17.4% stake in Petroleum Exploration License 90 in the Orange Basin offshore Namibia.

The license, operated by Chevron, provides access to a drill-ready prospect planned for testing in 2026, Equinor said. Other partners in the license are QatarEnergy, Trago Energy and NAMCOR, according to a statement.

Closing of the deal is subject to regulatory approvals, the company said.

Price: $41.93, Change: $+0.11, Percent Change: +0.26%

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