Chevron enters into exploration license offshore Namibia

Chevron Namibia Exploration Limited, a Chevron affiliate, has entered into Petroleum Exploration License 82 (PEL 82) with an 80% working interest and operatorship. NAMCOR and Custos Energy will each maintain a 10% carried interest in PEL 82 while Sintana Energy maintains an indirect 49% interest in Custos.

PEL 82 governs blocks 2112B and 2212A and is located in the Walvis Basin, offshore Namibia. Approximately 70% of the total block area is covered by more than 3,500 km of 2D and 9,500 sq km of 3D seismic data.

Previous drilling activity on PEL 82 included the Murombe-1 dry-hole well and Wingat-1 discovery well. Per Custos, results confirmed the regional extension and presence of the Barremian-Aptian oil-prone source rock (Kudu shale). The Murombe-1 penetrated the Baobab sands with approximately 20% porosity, while the Wingat-1 well recovered 38-41 degree API oil to surface.