Description of Activities

Description of transaction: The proposed transaction relates to the acquisition by Equinor Energy International AS (“Equinor”) of a participating interest in Petroleum Exploration Licence No. 0090 for Block 2813B (“PEL 90”) in the Orange Basin, offshore Namibia, from Harmattan Energy Limited (“Harmattan” or the “Seller”).

Acquiring group: The primary acquiring undertaking is Equinor, a company incorporated in Norway. Equinor is an indirect subsidiary of Equinor ASA, a publicly listed company incorporated in Norway, listed on the Oslo Stock Exchange and the New York Stock Exchange. Equinor does not control any undertaking. The broader acquiring group does not operate within Namibia; globally, it is active in the oil, gas, and renewable energy sectors across more than 20 countries. Its core operations are on the Norwegian continental shelf, which accounts for approximately two-thirds of its equity production. Outside Norway, the Equinor Group produces oil and gas in countries including the United States, Angola, Brazil, Algeria, the United Kingdom, Argentina, Canada, and Libya, and has renewable energy operations in the United Kingdom, Brazil, Poland, Denmark, Sweden, and Germany, among others.  

Target undertaking: The primary target undertaking is the participation interest in PEL 90. PEL 90 is held by Harmattan, a limited liability company incorporated in Jersey. Harmattan is controlled by Chevron Namibia Exploration Limited. PEL 90 provides rights to its holder to explore for oil and gas in the Orange Basin, offshore Namibia, currently at the exploration stage; there is presently no production of oil or gas from the licence area. Chevron conducts substantial business activities in over 20 countries worldwide. Chevron's integrated business spans a premier upstream portfolio, a resilient downstream and chemicals business, and a lower carbon portfolio. Chevron also secured exploration blocks in Petroleum Exploration Licence 82 (Blocks 2112B and 2212A) in the Walvis Basin, Namibia, in 2025.

Relevant market: The merging parties submit that the relevant market is the petroleum exploration in Namibia. 

Submit Your Comments

The Namibian Competition Commission (NaCC) values your input in ensuring fair competition across the country. If you have concerns about a business practice, merger, or market behavior, simply fill out our Feedback Form below. Provide a brief description of your concern, and include any relevant details or documentation. Your submission will be reviewed confidentially, and we’ll follow up if further information is needed.

Submission Form