NiseriN/iStock via Getty Images
Chevron (NYSE:CVX) has filed an application with Namibian regulators for an environmental clearance certificate for oil and gas exploration work in the offshore Orange Basin, Oil & Gas Journal reported Tuesday.
The Orange Basin, which includes TotalEnergies’ (TTE) recent multi-billion barrel Venus discovery, is emerging as one of the world’s most prospective oil and gas regions.
The certificate would allow Chevron (CVX) to drill up to five exploration wells and five appraisal wells in license PEL 90 offshore Namibia beginning in Q4 2024.
PEL 90 is located immediately north of Shell’s (SHEL) PEL 39 license, where the basin’s initial discoveries at Graff-1, La Rona-1 and Jonker-1 were drilled, and close to TotalEnergies’ (TTE) Venus-1 oil discovery on PEL 56.