Chevron (CVX) has agreed to sell a participating interest in an offshore exploration block in Namibia to QatarEnergy, the Qatari state-owned energy firm said Monday.
Under the terms of the deal, QatarEnergy will acquire a 25% stake in petroleum exploration license 0082, which covers an area of about 11,444 square kilometers.
Upon the deal's completion, Chevron will hold a 55% stake, while Namcor E&P and Custos Energy will each hold a 10% interest, QatarEnergy said.
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