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Namibia’s NAMCOR Talks Becoming Energy Self-Sufficient

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NAMCOR

In an exclusive interview with ECP, NAMCOR – the national oil company of Namibia – discusses its long-term strategic plan to establish value-added industries and secure its energy future

CAPE TOWN, South Africa, March 15, 2024/APO Group/ — 

As the national oil company of Namibia, NAMCOR is committed to harnessing the country’s full hydrocarbon potential and is currently working with operators to appraise recent offshore discoveries. Last September, Energy Capital & Power (https://EnergyCapitalPower.com) spoke with Former Managing Director Shiwana Ndeunyema about NAMCOR’s new long-term strategic plan, which aims to leverage oil and gas reserves to establish associated mid- and downstream industries, with a view to achieving domestic energy security, reducing petroleum imports and becoming an integrated energy player.

What are NAMCOR’s current areas of focus? 

NAMCOR is a dynamic entity poised to make a significant impact on the global energy landscape. Our vision is to transform into an international energy company, leveraging on the recent oil finds while honoring the dual priority associated with the global energy transition. As an integrated player in the energy sector, NAMCOR is actively engaged in the upstream and downstream sectors, with a recent focus on sustainable energies.

In the downstream, NAMCOR plays a pivotal role in contributing towards the security of supply of petroleum products for Namibia, in line with the National Energy Policy of 2017. Our downstream focus is on the importation of petroleum products, storage of these products in various NAMCOR-operated strategic storage facilities, supply of product to various B2B commercial customers, including mines and government agencies, as well as the supply of products to NAMCOR-branded retail service stations. NAMCOR’s medium-term goal is to integrate its traditional downstream business with sustainable energies such as solar electrification of our facilities and retail sites, exploring small-scale LNG, etc., in line with our ambition of becoming a fully integrated energy company.

In the upstream space, NAMCOR focuses on its mandate to harness the hydrocarbon potential of Namibia by conducting oil and gas exploration, development and production activities, which we do either alone or with our joint venture partners. Our current focus is on influential participation in the appraisal of the recent oil discoveries, their ESG-conscious development and eventual sustainable production, driving the country’s objectives to ensure maximum derivation of socioeconomic benefits and energy security for our nation and the African nation at-large. In summary, NAMCOR’s trajectory is one of purposeful growth and strategic engagement. We are steadfast in our pursuit of becoming a global energy force, while remaining firmly rooted in our responsibility to fortify energy security for Namibia and Africa.

Is NAMCOR considering expansion outside of the local market?

NAMCOR’s strategic outlook extends beyond its local market, with a focus on exploring expansion opportunities that align with our mission and capabilities. Presently, we have embarked on operations in the export market, specifically through our petroleum product sales, leveraging Namibia’s position as a logistics corridor hub for the Southern African Development Community region. NAMCOR’s upstream expansion in the international arena seeks to accelerate the development of the company’s dynamic capabilities and operatorship experience, while securing long-term revenue in preparation for technical and financial obligations in the Namibian discoveries. To this end, NAMCOR, through its jointly-owned international subsidiary, Sungara Energies, has previously signed a sale and purchase agreement to acquire equity in a robust oil-producing asset in Angola – a transaction that we envision to be completed this year.

What role will alternative fuels play in the commercial and industrial market?

The role of alternative fuels in the commercial and industrial market is an imperative consideration as we navigate the complexities of the global energy landscape. NAMCOR recognizes the significance of these alternative options, which are set to play an increasingly vital role as the world accelerates its transition towards more sustainable energy sources. However, it’s important to acknowledge that this transition doesn’t negate the valuable role that oil and gas will continue to play in driving the socioeconomic growth of Namibia – and specifically, the African economy – through immediate and tangible benefits in terms of energy security, job creation, industrialization, economic development and indirect socioeconomic benefits. Alternative energies present an opportunity for countries like Namibia to harness their sustainable natural resources, such as wind and solar, to develop green hydrogen and other synthetic fuels to become key energy exporters to the regional and international markets, while fueling local development and industrial benefits.

How can oil and gas infrastructure be leveraged to establish a downstream industry in Namibia?

The discoveries present an excellent opportunity for developing, and eventually scaling, Namibia’s upstream oil and gas infrastructure, such as the Kudu gas pipeline and potential LNG facilities – a project whose FID is expected within the next 18 months. It is usual that upstream infrastructure benefits the host country not only in terms of providing tangible benefits in the form of long-term job creation, but also through multiple opportunities for spin-off industries including downstream activities. Specifically related to the gas discovery and the associated gas in the oil discoveries, Namibia is set to become energy self-sufficient through gas-to-power facilities, world-class LNG hubs and other small-scale LNG to service the local mines.

Therefore, upstream oil and gas infrastructure will be a key driver in fostering increased investment in the downstream energy sector. NAMCOR’s position is that a holistic perspective on the entire oil and gas value chain should guide our endeavours to maximize benefits for both the company and the nation. The overarching goal is to optimize the efficiency of these sectors and harness the full potential of both the upstream and downstream energy spaces.

The 2023/2024 financial year marks the fifth and final year of the NAMCOR Integrated Strategic Business Plan (ISBP). We have commenced with the development of a new strategic plan that sets the scene for NAMCOR’s strategic direction. With the recent oil discoveries, the strategic planning horizon will now consider 10-15 years. This new Master Plan creates an opportunity for NAMCOR to leverage the oil discoveries to identify opportunities further midstream and downstream, specifically understanding how a business case can be developed around NAMCOR’s core competencies in the downstream space.

Distributed by APO Group on behalf of Energy Capital & Power.

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SLB commissions new fluids systems plant in Pemba to support Mozambique’s offshore energy development

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Mozambique

New facility expands in-country drilling and completion fluids capability, advancing the next phase of SLB’s growth in Mozambique

PEMBA, Mozambique, October 9, 2026/APO Group/ –SLB (NYSE: SLB) (www.SLB.com) announced the opening of a new fluids systems plant in Pemba, Mozambique. The new facility strengthens in-country capacity to prepare, store and deliver drilling and completion fluids for offshore operations, reinforcing the infrastructure needed as Mozambique’s offshore activity grows and its role as a strategic energy hub for East Africa continues to expand.

The commissioning of the plant, also known as a liquid mud plant, coincides with SLB marking 70 years of operations in Mozambique. It reflects the company’s long-term commitment to investing in people, infrastructure and capability that support the country’s long-term offshore energy development plans.

 




  

With an initial storage capacity of 21,000 barrels, the liquid mud plant provides a scalable platform for future growth, supporting multiple customers and rising offshore activity while improving logistics and enhancing operational flexibility.

As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions

“As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions,” said Miguel Baptista, Central, East and Southern Africa, Managing Director, SLB. The new liquid mud plant strengthens local energy infrastructure, expands opportunities for local content development, and enhances our ability to support customers as they deliver some of Africa’s most significant offshore energy resources.”

The liquid mud plant project was delivered with strong local participation and that momentum is expected to continue into operations. During project delivery, more than 100 jobs were created in Pemba with nationals representing 80% of the workforce, reflecting a focus on building local capability.

The project was delivered with a strong focus on safety, operational integrity, and quality, achieving more than 67,000 hours worked without a recordable safety incident.

This key infrastructure strengthens SLB’s ability to support consistent service quality and enhance supply chain readiness for increasing offshore activity across Mozambique, supporting customers execute safely and efficiently while developing local skills and expertise.

Key Points:

  • SLB has commissioned a new fluids system plant in Pemba, expanding in-country drilling and completion fluids capability for offshore operations.
  • With an initial storage capacity of 21,000 barrels, the facility provides a scalable platform to support growing offshore activity in Mozambique.
  • The investment marks the next phase of SLB’s growth in Mozambique, strengthening local capability and supporting long-term offshore energy development.

Distributed by APO Group on behalf of SLB.

 

 




 

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South African Energy Storage Association (SAESA) welcomes 4,600 MW battery storage prioritisation and calls for integrated energy planning

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Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply

JOHANNESBURG, South Africa, October 9, 2026/APO Group/ –The South African Energy Storage Association (SAESA) (www.SAESA.org.za) welcomes the prioritisation of 4,600 MW of battery energy storage under the first Integrated Resource Plan (IRP) 2025 Section 34 determination.

 




  

The timing is significant. Recent Integrated Energy Plan (IEP) modelling and assumptions discussions highlighted a fundamental shift that South Africa’s energy planning now needs to capture: we cannot plan the future power system by counting megawatts of generation alone.

We must plan for when energy is available, where it is available, how it moves through a constrained grid and how it is stored and dispatched when the system needs it most.

The announcement reinforces that shift. Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply.

For SAESA, the message for the IEP is clear: storage, flexibility and system services must be modelled as integral components of South Africa’s future electricity architecture, with their contribution considered from the outset of generation planning.

“The IEP must plan the power system we are becoming, not simply model the power system we have inherited,” says SAESA.

The IEP must plan the power system we are becoming, not simply model the power system we have inherited

Partnership with C&I Energy + Storage Summit

SAESA is an association partner of the C&I Energy + Storage Summit, created by VUKA Group, taking place on 28–29 October 2026 at The Maslow Hotel, Sandton, Johannesburg.

The summit brings together commercial and industrial energy users, project developers, financiers, regulators and solution providers to explore practical approaches to energy security, procurement and storage deployment.

For businesses assessing how storage can support their operations, the event offers an opportunity to meet SAESA and engage with the wider energy community on the decisions shaping South Africa’s evolving electricity system.

Commercial and industrial energy decision-makers are invited to apply to attend as hosted buyers. Qualifying buyers receive complimentary summit access and curated opportunities to engage with industry partners.

 

Meet SAESA at C&I Energy + Storage Summit: Join the Hosted Buyer Programme

The Hosted Buyer Programme connects commercial and industrial energy decision-makers with solution providers shaping South Africa’s evolving private energy market.

Qualified energy buyers receive complimentary access to the summit and curated engagement with industry partners exploring energy procurement, storage deployment and project development.

Apply for the Hosted Buyer Programme (https://apo-opa.co/4ehLijJ)

Distributed by APO Group on behalf of VUKA Group.

 




 

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Afreximbank welcomes launch of Africa Credit Rating Agency as an important step in strengthening Africa’s financial architecture

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Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets

PORT LOUIS, Mauritius, October 8, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) welcomes today’s launch of the Africa Credit Rating Agency (AfCRA), an important milestone in strengthening Africa’s financial architecture and expanding the continent’s capacity to generate credible, independent analysis of African credit risk.

 




 
 

Credit ratings play an important role in determining access to capital, influencing investor perceptions and shaping the cost at which governments, institutions and businesses can finance development. It is therefore essential that assessments of African credit risk are independent, rigorous and evidence-based, while reflecting a complete understanding of the structures, institutions and economic realities being assessed.

The establishment of AfCRA adds an important African-led source of credit opinion to the market. Its value will not be measured by whether it produces more favourable ratings, but by the credibility of its analysis, the quality of its data and transparency of its methodology, and its ability to deepen understanding of African sovereigns, sub-sovereigns and corporate credit.

This is particularly important given that many African issuers remain unrated, while local-currency and sub-sovereign markets continue to have limited rating coverage. Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets.

AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans

Alongside fellow members of the Alliance of African Multilateral Financial Institutions (AAMFI), Afreximbank has consistently maintained that African Multilateral Financial Institutions should be assessed on the basis of their fundamentals, performance, legal frameworks, mandates and operating models. Ensuring that these institutional characteristics are properly understood is essential to achieving informed, balanced and credible assessments of African risk.

Commenting on the uniqueness of the African market, and need for AfCRA’s rating methodology to reflect this, Mr Denys Denya, Senior Executive Vice President, Afreximbank, said: “The rating methodology AfCRA develops must recognise the uniqueness of our environment and its institutional structures. The Agency must set its own standards and not follow those set elsewhere — it must build a unique identity that conforms to an ‘African best practice.”

Highlighting the need for the autonomy of the Africa Credit Rating agency as it takes off, Mr Denya added: “Most importantly, AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans. We must all use it, and in return expect a complete assessment of where we (Africa) stand: the strengths the market has ignored, and the weaknesses we still need to fix.”

AfCRA should therefore be seen as complementary to existing international and regional rating agencies, broadening the range of credible analysis available to investors and issuers while strengthening competition, transparency and analytical capacity within Africa’s credit markets.

As Africa seeks to mobilise the scale of capital required for industrialisation, trade, infrastructure and economic transformation, credible African institutions that improve information, strengthen market confidence and deepen the continent’s financial markets will become increasingly important.

Afreximbank congratulates the African Union, the African Peer Review Mechanism (APRM) and all those involved in bringing AfCRA from concept to launch, and looks forward to the contribution the Agency will make to deeper, more transparent and more efficient African capital markets.

Distributed by APO Group on behalf of Afreximbank.

 




 

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