QatarEnergy on Wednesday signed a cooperation agreement with NAMCOR Exploration and Production (NAMCOR E&P), a subsidiary of the National Petroleum Corporation of Namibia (NAMCOR).
"The agreement provides 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," QatarEnergy said in a statement.
Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President & CEO of QatarEnergy, and Tom Alweendo, Namibia’s Minister of Mines and Energy witnessed the signing event, which took place in Doha. The agreement was signed by Immanuel Mulunga, the Managing Director of NAMCOR, and Khalid Mohammed Al-Hitmi, the Executive Vice President - Subsurface Development & Exploration of QatarEnergy.
Under the agreement, the two companies also agreed to work together on investment opportunities of mutual interest in Namibia’s upstream oil and gas sector.
Worth noting, both QatarEnergy and NAMCOR are partners in blocks where Shell and TotalEnergies recently made significant oil and gas discoveries.
In Petroleum Exploration License 39 (PEL 39) containing the Graff-1 discovery, Shell holds a 45% stake, Qatar Energy holds a 45% interest, and NAMCOR holds the remaining 10%.
Block 2913B, where TotalEnergies in February announced the Venus 1-X discovery, covers approximately 8,215 km² in deep offshore Namibia. TotalEnergies is the operator with a 40% working interest, alongside QatarEnergy (30%), Impact Oil and Gas (20%), and NAMCOR (10%).