Page 14 - MEOG Week 10 2022

MEOG PROJECTS & COMPANIES MEOG

QatarEnergy signs co-operation

agreement with NAMCOR

QATAR QATARENERGY has taken steps to expand The co-operation agreement will serve as a
its involvement in Namibia’s emerging oil and framework for the Qatari company to assist in
gas industry by working more closely with the providing training and other types of assistance
southern Africa country’s national oil company to NAMCOR employees so that the NOC can
(NOC). establish its own sustainable upstream capacity,
In a press release dated March 2, QatarEn- it explained.
ergy explained that it had signed a co-operation QatarEnergy went on to say that it also hoped
agreement with National Petroleum Corp. of its co-operation with NAMCOR would encom-
Namibia (NAMCOR). pass joint upstream projects but did not specify
The agreement was finalised in Doha, at a cer- whether the parties were considering any spe-
emony attended by Qatar’s Minister of State for cific projects.
Energy Affairs Saad Sherida Al-Kaabi, who also “Pursuant to the terms of the agreement, the
serves as president and CEO of QatarEnergy, and two companies also agreed to work together on
Namibia’s Minister of Mines and Energy Tom investment opportunities of mutual interest in
Alweendo, it said. Namibia’s upstream oil and gas sector,” it stated
It noted that the document had been signed in the press release.
by NAMCOR’s managing director Immanuel The Qatari company is already an investor in
Mulunga and QatarEnergy’s executive vice-pres- Namibia’s offshore zone, as it is a non-operating
ident for Subsurface Development and Explora- partner in PEL 39, a licence area operated by
tion Khalid Mohammed Al-Hitmi. UK-based Shell that includes the Graff discovery.
As of press time, neither side had revealed Shell revealed earlier this year that it had found
all the details of the agreement. However, sizeable reserves of light crude oil in the Graff-1
QatarEnergy indicated that it expected to work exploration well, which lies in a deepwater sec-
with NAMCOR E&P, the upstream subsidiary tion of the Orange basin.
of NAMCOR, to support the development of Industry observers have speculated that the
Namibia’s oil and gas sector, especially in the Graff field may contain 300-500mn barrels of
areas of exploration and production. crude or more. ™

P14 www. NEWSBASE .com Week 10 09•March•2022