Windhoek – British-based international seismic company, Polarcus, and National Petroleum Corporation of Namibia (Namcor) signed a Memorandum of Understanding (MoU) at the end of last week for the exploration and development of Namibia’s offshore petroleum resources.
The agreement focusses on collaboration through various geoscience initiatives and the provision of specialist business support services.
Under the terms of the MoU, Polarcus and Namcor will work together to identify opportunities and develop initiatives to enhance and promote the petroleum potential using Polarcus’ specialist services and expertise. Polarcus will provide 3D/4D marine seismic acquisition and processing services together with its geoscience expertise to help promote industry investment offshore Namibia.
Commenting on the agreement, Stephen Doyle, SVP Multi-Client Polarcus, said: “Namibia has an extensive yet still relatively unexplored shelf and we are excited at the opportunity to collaborate with Namcor on several initiatives to assist in realising Namibia’s full potential. The country has seen an upturn in exploration activity over recent years with encouraging results that justifies further exploration and development to unlock Namibia’s petroleum resources.”
Equally upbeat about the agreement, Namcor’s Acting Managing Director Ludwig Kapingana, remarked that “the accord provides an opportunity for the national oil company to get much-needed technical support”, which he is confident would “strengthen Namcor’s participation in future hydrocarbon exploration activities in Namibia”.
The partnership agreement between the two entities comes at a time when Namibia’s position on the global hydrocarbon map has seen tremendous growth in recent years.
by Staff Reporter