Chevron proposes drilling exploration well off Namibia

Chevron is considering drilling an exploration well in the Walvis Basin off the coast of Namibia in 2026 or 2027, the US oil major said on Thursday.

Chevron Namibia Exploration said it is maturing its prospect portfolio offshore Namibia, a southern African country that has become a global exploration hotspot.

The exploration well will be drilled in Petroleum Exploration License 82 in the Walvis Basin, a vast area north of the prolific Orange Basin where all of Namibia's offshore discoveries have been made by companies including TotalEnergies, Shell and Galp.

"With this programme, Chevron continues to activate its strong and growing exploration portfolio," a company statement said.

In January, Chevron said its first well in the Orange Basin did not find commercial hydrocarbon reserves.

(Reporting by Wendell Roelf Editing by Bernadette Baum and Barbara Lewis)