Chevron revealed plans to drill an exploration well in Namibia’s Walvis Basin, potentially starting as early as 2026 or 2027.
The company is actively developing its offshore Namibia exploration prospects, drawn by the region’s recent rise as a global exploration hotspot.
The upcoming well will be located in Petroleum Exploration License 82 within the Walvis Basin, just north of the prolific Orange Basin, where firms like TotalEnergies have made several discoveries.
Chevron stated that the move aligns with its strategy to strengthen and activate its diverse exploration portfolio.
Earlier this year, the company confirmed that its initial drilling effort in the Orange Basin failed to yield commercially viable hydrocarbon reserves. Around the same time, Shell announced a $400 million write-down after one of its offshore discoveries in Namibia proved non-commercial.
Namibia has now captured the attention of global oil players, becoming a central focus for future energy development.
In 2023, Namibia’s National Petroleum Company confirmed a light oil discovery roughly 270 kilometers offshore.
Major firms, including TotalEnergies and Shell, have uncovered an estimated 2.6 billion barrels of oil in the area.
These findings have fueled optimism that Namibia could start producing oil by 2030. Active exploration zones across the country include the Orange, Luderitz, Kavango, and Walvis basins.
source: africa.businessinsider.com
African Energy Council