Independent exploration company Custos Energy has announced the completion of energy supermajor Chevron’s subsidiary Chevron Namibia Exploration II Limited’s farm-in to PEL 82.

Chevron now holds an 80% working interest and operatorship of the license. Custos Energy and the National Petroleum Company of Namibia (Namcor) will retain a 10% interest each. Situated in the Walvis Basin, offshore Namibia, PEL 82 covers Blocks 2112B and 2212A.

Serving as one Namibia’s most attractive exploration opportunities, approximately 70% of the basin is covered by existing 2D and 3D data, over 3,500km and 9,500km2, respectively. Previous drilling on the license includes the Murombe-1 and Wingat-1 wells.

Chevron’s farm-in into PEL 82 adds to its existing offshore exploration portfolio in Namibia. The company currently operates PEL 90 where, together with its JV partners Trago Energy and Namcor, the major completed its first deepwater offshore well in January.