Philippe Mathieu, Equinor's Executive Vice President for Exploration and Production International, expects a "pretty big" oil discovery offshore Namibia.
Equinor hopes its stake in Petroleum Exploration Licence 90 (PEL 90) in the Orange Basin will lead to a discovery comparable to other major finds in the area.
Equinor acquired a 17.4% interest in the Chevron-operated license last week. This acquisition marks its entry into the promising Namibian offshore sector.
The move aligns with Equinor's strategy to strengthen and diversify its international exploration portfolio. A drill-ready prospect in PEL 90 is scheduled for testing later this year.