Namibia Oil Blocks Map: Complete Guide to PEL Licenses 2026
Visual guide to Namibia's 30+ offshore petroleum exploration licenses (PELs). Learn which blocks Shell, TotalEnergies, Galp, and Chevron operate, where discoveries have been made, and which acreage offers the best investment exposure.
Namibia's offshore is divided into 30+ petroleum exploration licenses (PELs) spanning three major basins: Orange, Walvis, and Luderitz. Understanding which blocks hold the most promise—and which companies control them—is critical for investors.
This guide maps out every major PEL, the operators behind them, discoveries made, and which blocks offer the best risk-adjusted investment exposure.
Strategic Position Across 5 Namibia Oil Blocks
Stamper Oil & Gas holds working interests and carried interests across 5 carefully selected blocks in Orange, Walvis, and Luderitz basins—adjacent to Shell, TotalEnergies, and Galp's major discoveries.
GET DETAILED INVESTOR INFORMATION →Orange Basin Blocks (South): The Proven Hotspot
The Orange Basin, offshore southern Namibia, hosts 80%+ of discovered oil. Here are the key blocks:
PEL 39 - Shell (Graff/La Rona Discovery) 🐚
Block Details:
- • Operator: Shell (45%)
- • Partners: QatarEnergy (45%), NAMCOR (10%)
- • Size: 8,215 km²
- • Water depth: 2,000–2,500m
Discoveries:
- • Graff-1: ~250–300M barrels (Jan 2022)
- • La Rona-1, Jonker-1: Additional discoveries; full PEL 39 resource under assessment
- • Jan 2025: Shell took $400M write-down; commercial viability challenged
- • Status: New 5-well exploration campaign launching April 2026; no confirmed FID
Investor Exposure:
Direct Shell ownership (NYSE: SHEL) or QatarEnergy exposure. Adjacent block holders include Eco Atlantic (PEL 28) and Pancontinental (PEL 87).
PEL 56 - TotalEnergies (Venus Discovery) ⚡
Block Details:
- • Operator: TotalEnergies (40%)
- • Partners: QatarEnergy (30%), Impact (20%), NAMCOR (10%)
- • Size: 8,125 km²
- • Water depth: 2,900-3,000m
Discoveries:
- • Venus-1: ~2 billion barrels recoverable (confirmed Feb 2022)
- • Appraisal: Multiple wells completed
- • ESIA: Submitted January 2026; FID targeted Q4 2026
- • First oil: Targeted 2029–2030; Phase 1 ~150,000–180,000 bpd
Investor Exposure:
Impact Oil & Gas (private, 20% stake) is the pure-play Namibia vehicle. Africa Oil Corp (TSX: AOI) holds ~39.5% of Impact, providing public-market access to the Venus upside.
PEL 83 - Galp (Mopane Discovery) 🇵🇹
Block Details:
- • Operator: TotalEnergies (40%, new operator pending approval)
- • Partners: Galp (40%), NAMCOR (10%), Custos (10%)
- • Note: TotalEnergies farmed in via asset swap (Dec 2025)
- • Size: 10,064 km²
Discoveries:
- • Mopane: 10B+ barrels in-place, unrisked (April 2024) ⭐⭐⭐
- • Recoverable estimate: ~875M BOE (Galp, April 2025)
- • Appraisal: 5+ wells completed; 3+ more planned 2026
- • Status: Appraisal ongoing, FID targeted 2028
Investor Exposure:
Galp Energia (ELI: GALP / OTCMKTS: GLPEY) holds 40%. TotalEnergies (EPA: TTE) now co-partner. Custos is private. The TotalEnergies farm-in deal is subject to regulatory approval in 2026.
PEL 82 - Chevron/NAMCOR 🇺🇸
Block Details:
- • Operator: Chevron (80%)
- • Partners: Custos Energy (10%), NAMCOR (10%)
- • Size: 5,291 km²
- • Basin: Walvis Basin (Blocks 2112B and 2212A)
Status:
- • Discovery: None yet
- • Drilling: Planned 2026-2027
- • Potential: 1-3 billion barrels (est)
- • Risk: Higher (unproven)
Investor Exposure:
Chevron (NYSE: CVX) only. High-risk/high-reward exploration play.
PEL 28 (Eco Atlantic) & PEL 87 (Pancontinental)
PEL 28 (Cooper Block):
- • Operator: Eco Atlantic (TSX-V: EOG, AIM: ECO)
- • Adjacent to: Shell's PEL 39
- • Status: Seeking farm-out partner; not drilled
PEL 87:
- • Operator: Pancontinental (75%)
- • Partners: Custos (15%), NAMCOR (10%)
- • Note: Woodside declined its farm-in option (March 2025); new farm-in partner being sought
- • Adjacent to: Galp's Mopane (PEL 83)
Investor Exposure:
Eco Atlantic (TSX-V: EOG, AIM: ECO) for PEL 28. Pancontinental (ASX: PCL) for PEL 87. Both are high-risk junior explorers seeking drilling partners.
Walvis Basin Blocks (Central): Emerging Potential
The Walvis Basin, offshore central Namibia, is less explored but showing encouraging signs:
PEL 81 - Exploration Stage
Block Details:
- • Basin: Walvis Basin
- • Status: Early exploration; no confirmed commercial discovery publicly reported
- • Note: The Mangetti-1X well is a TotalEnergies prospect drilled near PEL 90/Venus, not a confirmed PEL 81 discovery
Why It Matters:
- • The Walvis Basin remains less proven than the Orange Basin
- • Any discovery here would significantly expand Namibia's total resource base
PEL 37 - Chevron/NAMCOR (Exploration)
Block Details:
- • Operator: Chevron (80%)
- • Partner: NAMCOR (20%)
- • Size: 6,037 km²
- • Basin: Walvis (frontier)
Status:
- • Discovery: None yet
- • Drilling: Expected 2026-2027
- • Potential: 1-2 billion barrels
Luderitz Basin Blocks (South-Deep): High Risk/High Reward
The Luderitz Basin, offshore Namibia's southern coast, remains largely frontier territory:
PEL 85 - Rhino Resources / Azule Energy (Orange Basin)
- • Operator: Rhino Resources (42.5%)
- • Partners: Azule Energy (42.5%), NAMCOR (10%), Korres (5%)
- • Basin: Orange Basin (Block 2914A)
- • Note: Azule Energy is a bp–Eni joint venture
- • Discovery: Volans-1X (2025) — 26m net pay gas condensate
- • Prior wells: Sagittarius-1X, Capricornus-1X (3rd consecutive discovery)
- • Status: Appraisal / further exploration planned
PEL 84 - TotalEnergies/QatarEnergy
- • Operator: TotalEnergies (40%)
- • Partner: QatarEnergy (60%)
- • Size: 8,339 km²
- • Status: Early exploration
- • Potential: 1-3 billion barrels
Complete Block Inventory: All Major PELs
| PEL # | Operator | Basin | Discovery | Size (km²) |
|---|---|---|---|---|
| PEL 39 | Shell (45%, op) / QatarEnergy (45%) | Orange | Graff, La Rona, Jonker (commercial viability under review) | 8,215 |
| PEL 56 | TotalEnergies (40%) | Orange | Venus (~2B recoverable) | 8,125 |
| PEL 83 | Galp (80%) | Orange | Mopane (10B+) | 10,064 |
| PEL 81 | — | Walvis | Exploration (no confirmed discovery) | — |
| PEL 82 | Chevron (80%) | Walvis | None (drilling 2026–2027) | 5,291 |
| PEL 28 | Eco Atlantic | Orange | None (seeking farm-out) | 5,668 |
| PEL 87 | Pancontinental (75%) | Orange | None (seeking farm-in partner) | 5,266 |
| PEL 37 | Chevron (80%) | Walvis | Exploration 2026-27 | 6,037 |
| PEL 84 | TotalEnergies (40%) | Luderitz | Frontier (future) | 8,339 |
| PEL 85 | Rhino Resources (42.5%, op) / Azule (42.5%) | Orange | Volans-1X (gas condensate, 2025) | — |
Block Selection Strategy: What Makes a Good Block?
Not all blocks are created equal. Here's how to evaluate PEL quality:
✅ 8 Factors for Evaluating Namibia Oil Blocks
- Basin quality: Orange Basin proven (multiple world-class discoveries). Walvis/Luderitz = frontier (higher risk, less explored).
- Proximity to discoveries: Blocks adjacent to Shell/Galp/TotalEnergies = de-risked by analogue.
- Operator quality: Supermajor operator? Or junior explorer needing farm-out?
- Water depth: 2,000-3,000m = sweet spot. Shallower = too expensive for huge reserves. Deeper = very high cost.
- Block size: 5,000-10,000 km² ideal. Too small = limited upside. Too large = exploration takes decades.
- Seismic data quality: Modern 3D seismic? Or old 2D surveys?
- Drilling timeline: Near-term catalyst (6-18 months) vs long-term (3-5 years)?
- Ownership structure: Carried interest (no dilution) vs working interest (requires capital)?
Best Blocks for Investors (Ranked)
Tier 1: Proven Discoveries (Lowest Risk)
- • PEL 83 (Galp/TotalEnergies - Mopane): 10B+ barrels in-place (unrisked); ~875M BOE recoverable estimate. FID targeted 2028. ⭐⭐⭐
- • PEL 39 (Shell - Graff/La Rona/Jonker): Multiple discoveries; commercial viability under review after $400M write-down. New drilling April 2026. ⭐⭐
- • PEL 56 (TotalEnergies - Venus): ~2B barrels recoverable. FID Q4 2026 target. Best public access via Africa Oil Corp (TSX: AOI). ⭐⭐⭐
Strategy: Lowest risk, moderate upside (100-300%). Best for conservative investors.
Tier 2: Adjacent to Discoveries (Medium Risk)
- • PEL 28/87 (Eco Atlantic): Adjacent to Shell PEL 39. Farm-out expected 2026. ⭐⭐
- • PEL 82 (Chevron): Orange Basin, between Shell and Galp. Drilling 2026. ⭐⭐
- • PEL 85 (Rhino Resources/Azule - Volans): Third consecutive discovery on block; gas condensate confirmed 2025. Orange Basin. ⭐⭐
Strategy: Medium risk, high upside (300-1000%). For balanced portfolios.
Tier 3: Frontier Exploration (High Risk)
- • PEL 84/85 (Luderitz Basin): Undrilled deepwater. Shell/TotalEnergies operators. ⭐
- • PEL 37 (Chevron - Walvis): Frontier basin, no discoveries yet. ⚠️
- • Various junior blocks: Tower Resources, Pancontinental, etc. ⚠️⚠️
Strategy: High risk, very high upside (1000%+ or -80%). For aggressive investors only.
How to Use This Block Map for Investment Decisions
4-Step Block Analysis Framework
Step 1: Identify the Basin
• Orange Basin = proven (prioritize)
• Walvis Basin = emerging (moderate risk)
• Luderitz Basin = frontier (high risk)
Step 2: Check Operator Quality
• Supermajor (Shell, Total, Galp, Chevron) = best
• Mid-tier (with supermajor farm-in) = good
• Junior alone (no partner) = avoid
Step 3: Evaluate Discovery Status
• Discovery + appraisal = low risk
• Adjacent to discovery = medium risk
• Frontier (no nearby wells) = high risk
Step 4: Assess Investor Access
• Publicly traded partner with significant stake = best
• Adjacent block holder = indirect exposure
• Supermajor only = limited retail upside
The Bottom Line: Understanding Namibia's Oil Block Map
Key Takeaways
- ✅ 30+ PELs across Namibia's offshore (3 basins)
- ✅ Orange Basin = proven (PEL 39, 56, 83, 85 = multiple major discoveries)
- ✅ Walvis Basin = emerging (PEL 82 = Chevron drilling 2026–2027)
- ✅ Luderitz Basin = frontier (PEL 84 = early-stage exploration)
- ✅ 4 majors/supermajors active (Shell, TotalEnergies, Galp, Chevron)
- ✅ Best public investor access: Africa Oil Corp (TSX: AOI, ~39.5% of Impact/PEL 56), Galp (ELI: GALP, PEL 83)
- ✅ Highest potential blocks: PEL 83 (10B+ in-place, ~875M recoverable est.), PEL 56 Venus (~2B recoverable), PEL 85 (gas condensate discovery 2025)
For investors, the block map reveals where the value is: Orange Basin blocks adjacent to proven discoveries offer the best risk-adjusted returns.
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Strategic Multi-Block Exposure Across All 3 Basins
Rather than betting on a single block, Stamper Oil & Gas provides diversified exposure across 5 strategically selected blocks in Orange, Walvis, and Luderitz basins. Carried interests and working interests alongside Shell, TotalEnergies, and Galp.
GET DETAILED INVESTOR INFORMATION →