the first major is getting nervous (after venus and graff) and shows his money in Namibia
https://www.upstreamonline.com/exclusive/chevron-set-to-enter-coveted-block-offshore-namibia/2-1-1276469Chevron set to enter coveted block offshore Namibia Upstream understands the US supermajor close to farming in to high-potential Orange basin acreage 11 August 2022 11:24 GMT UPDATED 11 August 2022 12:16 GMT By Iain Esau in London US supermajor Chevron is set to take a majority stake in a highly coveted ultra-deepwater block offshore Namibia, just north of TotalEnergies huge Venus discovery, according to multiple sources. Upstream understands that a farm-in deal covering what is probably one of the most sought-after licences in the Orange basin has almost been wrapped up and is due to be announced soon. Namibia: Galp galvanised amid scramble to grasp impact of huge discoveries Read more If confirmed, the transaction will mark Chevrons first entry into southern Africa since its aborted foray into South Africas nascent onshore shale gas play some years ago. The California-headquartered players current African portfolio is centred on its Angolan assets offshore Cabinda. Three well-placed sources told Upstream that the upcoming deal covers Block 2813B, directly north of the multi-billion barrel Venus discovery. No regrets: Tullow boss explains reasons behind Orange basin exit in Namibia Read more This block is operated by Australian junior Harmattan Energy following Tullow Oils exit from the acreage just weeks before the results from the Venus-1 wildcat and Shell's Graff-1 probe were unveiled. Commenting on Chevrons proposed entry into the asset, one informed source said it is pretty much a done deal, adding that the US giant has looked at South African Orange basin acreage in the past so a deal in Namibia is not surprising". According to a statement carried on Harmattans website dated 21 February 2022, it held a 37.06% stake in the block, with Trago Energy on 52.94% and state-owned Namcor holding 10%. Namibia basks in glow from Venus Read more Trago was controlled by Namibian businessman Knowledge Katti. However, according to information published on 9 March 2022 on the website of Toronto-listed Sintana Energy, Harmattan has a 37% stake in the block, with Grisham Assets Corporation on 33%, Inter Oil on 20% and Namcor on 10%. Sintana has a 49% interest in Inter Oil which, like Grisham, is believed to be controlled by Katti. What's next for Orange basin after Venus and Graff? Read more Sintana said the block is covered by 2400 line kilometres of 2D seismic data and more than 7900 square kilometres of 3D data, while water depths range from 2300 to 3100 metres. Harmattan is controlled by Havoc Partners, which is led by extractive industries veteran and Africa specialist Alan Stein. Neither Chevron nor Harmattan had responded to Upstream questions at press time
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