QatarEnergy, the state-owned petroleum company, has signed a Cooperation Agreement with NAMCOR Exploration and Production (NAMCOR E&P), a subsidiary of the National Petroleum Corporation of Namibia, to develop the oil and gas sector of the South African country.
The cooperation agreement will provide the framework for cooperation between QatarEnergy and NAMCOR E&P 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 industry-based skills.
The signing ceremony, which took place in Doha, was witnessed by Qatar’s Minister of State for Energy Affairs and President and CEO of QatarEnergy, HE Saad Sherida Al Kaabi and Namibia’s Minister of Mines and Energy, Mr. Tom Alweendo.
The agreement was signed by the Managing Director of NAMCOR, Mr. Immanuel Mulunga and the Executive Vice President for Subsurface Development and Exploration of QatarEnergy, Mr. Khalid Mohammed Al Hitmi.
According to the terms of the agreement, the two companies also agreed to work together on investment opportunities of mutual interest in Namibia’s upstream oil and gas sector.
NAMCOR E&P is a subsidiary of the National Petroleum Corporation of Namibia (NAMCOR), operating with a mission of creating value for all its stakeholders across the oil and gas value chain, including license interests and oversight of the upstream oil and gas sector. NAMCOR provides exploration and production services for onshore and offshore petroleum resources in the South African country. The upstream activities of include exploration and production, promotion and maintaining an advisory and regulatory role.