The National Petroleum Corporation (NAMCOR) signed a Memorandum of
\nUnderstanding with The Petroleum Oil and Gas Corporation of South Africa (PetroSA).
\nThe purpose of the MOU is to develop and cooperate on suitable business
\nopportunities regarding both the Upstream and Downstream sectors. Both parties
\nhave agreed to cooperate in various initiatives, assessing and identifying various
\nsynergies in production sharing. These would include purchasing and marketing crude
\noil and refined products to be supplied within Southern Africa and the SADC region.<\/p>\n
Regarding business opportunities, the MOU paves the way for both parties to enter
\ninto working groups to promote skills development and knowledge transfer between
\nthe entities to ensure the optimisation of human capital capacity for future oil and gas
\nendeavours as Namibia prepares itself for its first oil extraction.<\/p>\n
PetroSA is a wholly state-owned company of the Government of South Africa and is
\nregistered as a commercial entity under South African law.<\/p>\n
\u201cBeing identical National Oil Companies in two neighbouring countries, the
\nopportunity was clear and will be mutually beneficial for both parties. As we prepare
\nto maximise our capability and capacity to handle these new discoveries, this
\nsymbiotic relationship will assist us in ensuring we meet our goals.\u201d stated the
\nManaging Director of NAMCOR \u2013 Immanuel Mulunga.<\/p>\n","protected":false},"excerpt":{"rendered":"