WINDHOEK- The Petrofund has pledged N$1.3 million to the Department of Geology at the University of Namibia for the purchase of equipment required to launch the much needed Master of Science in Petroleum Geosciences program in 2015.
“In a quest to manage our training costs, I am pleased to announce that the Petrofund Board of Trustees hereby makes a pledge to support the Department of Geology with the purchase of equipment needed to launch the Master’s Degree in Petroleum Geosciences program,” said the chairperson of the Petrofund, Kahijoro Kahuure, at the fund’s 20th anniversary celebration last week.
Since its formation in 1993, the Petrofund bursary scheme has provided financial assistance and opportunities to many students every year, with most of the students coming from previously disadvantaged backgrounds..
Awarding certificates of appreciation to recognize their services rendered to the Petrofund during the past 20 years was Advocate Werner Boesak, who commended the Ministry of Mines and Energy for soliciting companies operating in the petroleum field to contribute to the training of young people. “The team members of the directorate led the government negotiation team that oversees petroleum agreements (PAs) being signed, petroleum exploration licenses (PELs) being awarded and the resultant training obligations being created,” he said.
Boesak said that each PEL holder is required to honour the Petrofund training obligations which are normally enriched in clause 22 of the petroleum agreement for the entire duration of the PEL.
“Failure to remit the training levy is a breach of contractual obligations. Currently, the department has 51 PELs under its management. With the prospects of the availability of hydrocarbons having increased significantly after the recent discovery of non-commercial quantities of hydrocarbons by HRT Africa, while the Kudu gas project has gained commendable momentum, it is now imperative that all PEL holders honour their training obligations,” he said.
By Kuzeeko Tjitemisa