QatarEnergy, the state-owned petroleum company, has signed a memorandum of understanding (MoU) with the Ministry of Mines and Energy of Namibia in order to strengthen cooperation in the energy sector.
The memorandum of understanding paves the way for continued cooperation and covers key areas such as knowledge sharing, workforce development, and exploring further investment opportunities in Namibia.
The agreement was signed by Qatar’s Minister of State for Energy Affairs, the President and CEO of QatarEnergy, HE Eng. Saad bin Sherida Al Kaabi and Minister of Mines and Energy of the Republic of Namibia, Mr. Tom Alweendo at QatarEnergy’s headquarters in Doha.
Eng. Al Kaabi has stated that “this agreement further strengthens our relationship as we work jointly towards a prosperous future.”
QatarEnergy recently announced a light oil discovery in the Jonker-1X well in the Orange Basin, offshore southern Namibia, adding to the previous two separate oil and associated gas discoveries in the same basin in 2022.
According to the statement, “QatarEnergy holds interests in three Exploration Licenses offshore Namibia, PEL-39 (45 percent), PEL-56 (30 percent), and PEL-91 (28.33 percent), covering a total area of over 28,000 square kilometers.”
Recently, QatarEnergy signed a definitive partnership agreement with China Petrochemical Corporation (Sinopec) for the North Field East (NFE) expansion project, the largest project in the history of the LNG industry. Under the terms of the agreement, QatarEnergy will transfer to Sinopec a 5 percent interest in the equivalent of one NFE train with a capacity of 8 million tons per annum (MTPA).