• Contact Us
  • About Us
  • Advertisement
  • Privacy & Policy
Thursday, July 3, 2025
SUBSCRIBE
The Brief | Namibia's Leading Business & Financial News
13 °c
Columbus
19 ° Tue
21 ° Wed
  • Home
  • Companies
    • Finance
    • Agriculture
    • Technology
    • Property
    • Trade
    • Tourism
  • Business & Economy
  • Mining & Energy
  • Opinions
    • Analysis
    • Columnists
  • Africa
  • e-edition
No Result
View All Result
The Brief | Namibia's Leading Business & Financial News
  • Home
  • Companies
    • Finance
    • Agriculture
    • Technology
    • Property
    • Trade
    • Tourism
  • Business & Economy
  • Mining & Energy
  • Opinions
    • Analysis
    • Columnists
  • Africa
  • e-edition
No Result
View All Result
The Brief | Namibia's Leading Business & Financial News
Subscribe
No Result
View All Result
TB image banner 750x140
Home Companies

Namport, Sonangol, Namcor ink tripartite deal to construct Namibia oil base

by editor
October 17, 2022
in Companies
47
A A
58
SHARES
960
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

You might also like

BoN orders banks to cut gap between repo and lending rates

Foreign investment into Namibia surges to US$11 billion

Namibia’s medical aid funds record N$229.7m surplus in Q1

The Namibian Ports Authority (Namport) has entered into a tripartite agreement with Angola’s Sonangol and the National Petroleum Corporation of Namibia (Namcor) to establish an integrated logistics base in Namibia to support the country’s emerging oil and gas industry.

The Memorandum of Agreement (MoA) – signed by the Chairperson of the Board of Directors of Sonangol Gaspar Martins, the CEO of Namcor Immanuel Mulunga and the CEO of Namport Andrew Kanime, and witnessed by the Secretary of State for Oil and Gas of Angola José Barroso – is centered on Namport and Namcor readying themselves as entities to address future demands following the confirmation of oil discoveries earlier this year in Namibia.

As part of the agreement signed within the framework of the 3rd meeting of the African Petroleum Producers Organisation, Namport is expected to grant areas located in Walvis Bay and Luderitz that might be deemed suitable for the implementation of the collaboration to bring about full realisation of the agreement, which is expected to benefit Namibia’s oil and gas industry.

The three parties, through the agreement, will see Namibia and Angola through SONILS (subsidiary of Sonangol) realise positive bearings from Namibia’s oil and gas industry.

The logistics base to be built will be similar to that of SONILS in Luanda, although no timeline has been set.

“The signing of such an agreement places the Ports Authority’s aspirations into practice,” Namport CEO Andrew Kanime said.

Namibia’s oil discoveries are estimated to contain about 6.5 billion barrels of oil equivalent of recoverable reserves, with logistics expected to play a key role in the movement of the oil.

Namcor and its partners, Shell Namibia Upstream B.V and Qatar Energy, are said to have discovered a working petroleum system for light oil in the Orange Basin, 270km from the town of Oranjemund, where drilling operations commenced in early December 2021 and were safely completed in early February 2022.

The company’s other partners, TotalEnergies, alongside QatarEnergy, and Impact Oil and Gas have also announced the Venus-1X discovery, located approximately 290 kilometres off the coast of Namibia, in the deep-water offshore exploration Block 2913B, which covers approximately 8,215km².

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.

Namcor through its subsidiary, NAMCOR Exploration and Production has also entered into an agreement with Qatar to support and develop a sustainable upstream oil and gas sector in Namibia.

 

author avatar
editor
See Full Bio
Tags: companies
Share23Tweet15Share4
Previous Post

Nujoma urges unions to also prioritise members’ output

Next Post

FlyNamibia launches Eros-Walvis Bay fights

Recommended For You

BoN orders banks to cut gap between repo and lending rates

by reporter
July 2, 2025
0
BoN orders banks to cut gap between repo and lending rates

The Bank of Namibia (BoN) has directed all commercial banks to narrow the gap between the repo rate and lending rates by 25 basis points in two stages...

Read moreDetails

Foreign investment into Namibia surges to US$11 billion

by reporter
July 2, 2025
0
Namibia attracts  N$115 billion FDI over 4 years

Namibia’s inward foreign direct investment (FDI) stock rose to US$10.995 billion in 2024, up from US$9.2 billion in 2023, according to the United Nations Conference on Trade and...

Read moreDetails

Namibia’s medical aid funds record N$229.7m surplus in Q1

by reporter
July 2, 2025
0
Namibia’s medical aid funds record N$229.7m surplus in Q1

Namibia’s medical aid funds industry recorded a net surplus of N$229.7 million in the first quarter of 2025, driven by ongoing cost containment efforts and a steady claims...

Read moreDetails

DBN secures Green Climate Fund accreditation

by reporter
July 2, 2025
0
DBN secures Green Climate Fund accreditation

The Development Bank of Namibia (DBN) has been officially accredited by the Green Climate Fund (GCF), a move expected to improve Namibia’s ability to access international climate finance....

Read moreDetails

Edelweiss to launch direct Zurich–Windhoek flights in June 2026

by reporter
July 2, 2025
0
Edelweiss to launch direct Zurich–Windhoek flights in June 2026

Edelweiss Air will launch a direct, twice-weekly service between Zurich and Windhoek starting 1 June 2026. The non-stop route, operated by Switzerland’s leading leisure airline, will connect Zurich...

Read moreDetails
Next Post
FlyNamibia launches Eros-Walvis Bay fights

FlyNamibia launches Eros-Walvis Bay fights

Related News

Tom Alweendo named among Africa’s top energy leaders to watch in 2025

Tom Alweendo named among Africa’s top energy leaders to watch in 2025

January 24, 2025
Namibia to roll out agro-processing centres in rural areas 

Namibia to roll out agro-processing centres in rural areas 

September 5, 2024
Bank Windhoek finances N$518m worth of properties in Central Region

Bank Windhoek finances N$518m worth of properties in Central Region

April 26, 2023

Browse by Category

  • Africa
  • Agriculture
  • Analysis
  • Business & Economy
  • Columnists
  • Companies
  • Finance
  • Finance
  • Fisheries
  • Green Hydrogen
  • Health
  • Investing
  • Latest
  • Market
  • Mining & Energy
  • Namibia
  • namibia
  • News
  • Opinions
  • Property
  • Retail
  • Technology
  • Tourism
  • Trade
The Brief | Namibia's Leading Business & Financial News

The Brief is Namibia's leading daily business, finance and economic news publication.

CATEGORIES

  • Business & Economy
  • Companies
    • Agriculture
    • Finance
    • Fisheries
    • Health
    • Property
    • Retail
    • Technology
    • Tourism
    • Trade
  • Finance
  • Green Hydrogen
  • Investing
  • Latest
  • Market
  • Mining & Energy
  • namibia
  • News
    • Africa
    • Namibia
  • Opinions
    • Analysis
    • Columnists

CONTACT US

Cell: +264814612969

Email: newsdesk@thebrief.com.na

© 2025 The Brief | All Rights Reserved. Namibian Business News, Current Affairs, Analysis and Commentary

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Companies
  • Mining & Energy
  • Business & Economy
  • Opinions
    • Analysis
    • Columnists
  • Africa

© 2025 The Brief | All Rights Reserved. Namibian Business News, Current Affairs, Analysis and Commentary

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.