QatarEnergy buys 25% of Chevron's Namibia oil block PEL 82

What happened. QatarEnergy signed an agreement to buy 25% of exploration license PEL 0082 from Chevron Namibia Exploration II Limited, a Chevron subsidiary. The license covers blocks 2112B and 2212A.

Who gets what. When the deal closes, Chevron keeps 55% and stays operator. QatarEnergy gets 25%. Namcor E&P and Custos Energy get 10% each. The deal depends on customary regulatory approvals.

About the block. The license covers about 11,444 square kilometers offshore Namibia. Water depth ranges from 350 to 2,300 meters. It is an exploration license: nobody is producing oil from it yet.

What QatarEnergy says. Its CEO Saad Sherida Al-Kaabi said the deal strengthens relations with Chevron and expands and diversifies the company's footprint in Namibia. He thanked the Namibian authorities for their support.

Context. QatarEnergy already holds stakes in several Namibian blocks and works there with TotalEnergies and Shell. According to Business Insider Africa, TotalEnergies expects a final investment decision on the Venus discovery later this year. QatarEnergy is a partner in that project too. The same outlet reports that the Iran war has disrupted Qatar's LNG production and that some cargoes are trapped in the Persian Gulf. That is why, it says, the company looks for assets outside the region. This is the outlet's reading, not QatarEnergy's words.

What is unknown. The price is not stated. Nor is it said when drilling on the block will start.

Confirmed facts

• On November 9, 2026 QatarEnergy signed an agreement to acquire 25% of exploration license PEL 0082 in Namibia from Chevron Namibia Exploration II Limited, a Chevron subsidiary.^[1][2][3]
• The deal is subject to customary regulatory approvals.^[1][3]
• After completion Chevron (operator) will hold 55%, Namcor E&P and Custos Energy 10% each.^[1][3]
• PEL 82 comprises blocks 2112B and 2212A.^[1]
• The license covers about 11,444 square kilometers, in water depths of 350 to 2,300 meters.^[1]
• Business Insider Africa calls Namibia one of the world's most closely watched oil exploration frontiers.^[3]
• QatarEnergy already holds stakes in several blocks off Namibia alongside TotalEnergies and Shell.^[2][3]
• QatarEnergy CEO Saad Sherida Al-Kaabi said the deal strengthens relations with Chevron and expands and diversifies the company's footprint in Namibia.^[1]
• According to Business Insider Africa, the Iran war has disrupted Qatar's LNG production and some cargoes are trapped in the Persian Gulf.^[3]
• According to Business Insider Africa, TotalEnergies expects a final investment decision on the Venus discovery later this year, with QatarEnergy as a partner.^[3]

Implications

• ConfirmedQatarEnergy is expanding its presence in Namibia, where it already holds stakes in several blocks.
• Our readingThe deal shows the Qatari company investing in oil and gas assets outside the Persian Gulf. This is our inference.
• Our readingThis is exploration, so do not expect a noticeable effect on oil supply any time soon. This is our inference.

Still unknown

• The price of the deal
• When regulators will approve it
• When drilling on the block will start and what it will find

Who it affects

Qatar, Namibia, Africa. People who follow oil and gas companies, exploration in Africa and the energy market

Sources

1. QatarEnergy: QatarEnergy acquires interest in Namibian offshore exploration license November 9, 2026 · official
2. Bloomberg: QatarEnergy Adds Chevron Block to Stakes in African Oil Hotspot November 9, 2026 · media
3. Business Insider Africa: Qatar takes stake in Chevron's oil block in Africa's newest oil hotspot as Iran war threatens its energy exports November 9, 2026 · media