NAMCOR Exploration and Production, a subsidiary of the National Petroleum Corporation of Namibia (NAMCOR), has signed a knowledge-sharing agreement with French listed company Technip Energies aimed at capacitating the local firm.
As part of the agreement, both parties will strengthen the capacity of NAMCOR and the Ministry of Mines and Energy to participate in the realisation of various projects both onshore and offshore, allowing NAMCOR to develop the energy strategy and energy transition in Namibia.
“Our purpose is our people and allowing our Namibians to upskill and better themselves for the many opportunities the energy industry will create is a strategic point for us. Smart partnerships are key in ensuring our success and the overall success of Namibia as we optimise our discoveries,” NAMCOR Managing Director Immanuel Mulunga said.
The integration of Technip Energies’ experts into the NAMCOR and the Ministry of Mines and Energy (MME) teams is expected to ensure skills transfer that will be vital to the optimisation of the recent hydrocarbons discoveries in Namibia.
Technip Energies is a leading engineering and technology company for the energy transition, with leadership positions in Liquefied Natural Gas, hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management operating in 34 countries with over 15,000 employees.
The company is listed on Euronext Paris with American depositary receipts trading over-the-counter in the United States.
The latest agreement is not the first partnership NAMCOR E&P has sealed with a foreign firm as the company earlier this year also entered into an agreement with Qatari oil and gas giant QatarEnergy.
The NAMCOR-QatarEnergy partnership provides the framework for cooperation between the two companies to support and develop a sustainable upstream oil and gas sector in Namibia, including the provision of opportunities for the training and development of NAMCOR employees in oil and gas industry-based skills.
Namcor estimates that Namibia could generate N$91.2 billion (US$5.6 billion) in revenue for the country at peak production from its two oil finds, which have the potential to double the country’s economy, which Bloomberg estimates at N$200 billion (US$11 billion) by 2040.
