National Petroleum Corporation of Namibia
1 Avaition Road, Petroleum House
Private Bag 13196, Windhoek
Namibia
Tel: +264 61 204 5000
The National Petroleum Corporation of Namibia, NAMCOR, is a legally enacted entity with limited liability under the Namibian Companies Act of 1973. The Government of the Republic of Namibia is its sole shareholder.
Under the Petroleum (Exploration and Production) Act of 1991 NAMCOR (Pty) Ltd has the right to carry out reconnaissance, exploration and production operations either on its own or in partnership with other organisations in the industry.
The Act further stipulates that NAMCOR, if required by the Minister of Mines and Energy, can carry out any process of refining, disposing of or dealing with petroleum.
In October 2020, LEKOIL entered into a Strategic Alliance Agreement ("SAA") with NAMCOR Exploration and Production through its subsidiary, LEKOIL Exploration & Production (PTY) Namibia.
NAMCOR E&P, a subsidiary of the national oil company of Namibia, seeks to invest capital in the acquisition of interests in well-managed oil producing assets in politically stable jurisdictions as a means of securing long-term sustainability. The SAA will leverage the technical capabilities of the respective parties towards the joint evaluation and acquisition of low-risk quick-to-production oil and gas assets across Africa.
KEYFACT Energy