Chevron is considering drilling an exploration well in the Walvis Basin off the coast of Namibia in 2026 or 2027, as part of its growing exploration portfolio in the region.
The U.S.-based oil giant confirmed the plan on Thursday, with Chevron Namibia Exploration Limited reporting that it is advancing its prospect portfolio offshore Namibia, which has gained attention as a key exploration hotspot.
Chevron said the planned exploration well would be drilled in Petroleum Exploration License (PEL) 82, situated in the Walvis Basin.
The Walvis Basin lies north of the Orange Basin, where several notable discoveries have been made by companies such as TotalEnergies, Shell, and Galp.
Chevron noted that the well would contribute to its ongoing exploration activities in the region, adding to the company’s efforts to strengthen its presence in Namibia.
Exploration setbacks in the orange basin
Chevron’s latest announcement follows a previous setback earlier this year, when its first well in the Orange Basin failed to discover commercial hydrocarbon reserves.
The well, named Kapana 1X, was drilled in the PEL90 block, and although it provided valuable geological data, it did not result in commercially viable oil or gas.
This aligns with similar findings from Shell, which also declared its own offshore Namibia discovery commercially unviable, writing down $400 million in the process. Chevron finds no commercial reserves at Namibia’s Orange Basin.
Despite these setbacks, Chevron remains committed to its exploration efforts in Namibia.
The country, which aspires to become a major oil producer, has seen several international oil companies continue their exploration campaigns, with notable discoveries made in recent years.
While Shell recently wrote down $400 million over unprofitable Namibia oil discovery, companies such as Galp, Rhino Resources, and Azule Energy, a joint venture between Eni and BP, are all planning to drill new exploration wells this year.
