Namcor and Portuguese energy giant to collaborate on capacity building

THE National Petroleum Corporation of Namibia (Namcor) and Portuguese energy giant Galp Energy have signed a two-year agreement to enhance the skills and competencies in both upstream and downstream sectors.

Namcor spokesperson Utaara Hoveka says under the agreement senior Namcor and Galp officials will identify opportunities and initiatives in the two sectors.

“Under the upstream focus area, officials will identify technologies inclusive of geoscience, an area reservoir model and simulation, and deep offshore technologies, while international crude oil trade, natural gas, and downstream logistics form central themes in the downstream focus area,” he said in a statement.

The memorandum was signed at the official opening of Galp Namibia’s offices in Windhoek and was announced by Namcor on 5 January.

The agreement also seeks to develop highly skilled oil and gas experts in Namibia, boosting Namibia’s capacity to maximise the opportunities brought about by the recent oil discoveries.

“The agreement will greatly benefit Namcor and the country at large in securing high-level experts across the oil and gas value chain as it ventures into uncharted territory of petroleum production.

“Technical and commercial officials will be exposed to training opportunities that sharpen their skills, enabling them to exploit and manage the country’s energy resources in the most efficient manner,” Hoveka said.

This agreement comes after Namcor made a significant oil discovery in the Mopane-1X exploration well in PEL83 offshore Namibia.

This well is operated by Galp Energy in consortium with Namcor and Custos Energy.

Galp has an 80% stake in PEL83, while both Namcor and Custos have a 10% stake each.

Minister of mines and energy Tom Alwendo congratulated the joint venture on its discovery at Mopane-1X.

“This discovery further demonstrates Namibia’s ability to attract top-tier partners making world-scale investments. We are looking forward to continuing success in this regard,” he said.

Under the tenets of the capacity building agreement, Galp also pledged to give Namcor technical advice and related services as may be identified in future cooperation plans.

The two parties have also agreed to work together on energy projects in Namibia and other locations.

“Renewable energies as well as health and safety also form part of the focus areas,” Namcor has said in a statement.