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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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Liberia to Preview Next Oil & Gas Licensing Round Strategy at Houston Investor Day

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The Liberia Petroleum Regulatory Authority will host operators, investors and partners in Houston on August 19 to preview future licensing opportunities and showcase the exploration potential of its offshore basins

HOUSTON, United States of America, August 7, 2026/APO Group/ –The Liberia Petroleum Regulatory Authority (LPRA) will present its strategy for the country’s next offshore licensing round at Liberia Investor Day Houston on August 19, bringing together international exploration companies, investors, service providers and energy leaders to discuss the next phase of Liberia’s upstream development.

Hosted in partnership with Energy Capital & Power, the event will provide a platform for the LPRA, led by Director General Hon. Marilyn T. Logan, to outline Liberia’s regulatory framework, investment priorities and plans to attract new participation across the country’s offshore sector. Discussions will focus on upcoming licensing opportunities, exploration prospects and the subsurface data supporting future investment decisions.

Liberia’s offshore sector is entering a new phase of exploration activity, with renewed international participation and a growing pipeline of opportunities. Following the award and ratification of eight Production Sharing Contracts in 2025, Liberia has re-established itself as a frontier exploration destination, with international operators advancing work programs designed to further evaluate the country’s petroleum potential. TotalEnergies is progressing exploration activities that include offshore geochemical surveys, 3D seismic acquisition and seabed mapping, while Oranto Petroleum has also signed contracts to explore Liberia’s offshore.

At the Liberia Investor Day Houston, the LPRA will provide industry stakeholders with insight into the priorities shaping the next licensing round, including the anticipated process, qualification requirements, available acreage and access to technical data. The engagement will give prospective investors a clearer view of Liberia’s exploration landscape and the opportunities emerging across its offshore basins.

The event will also facilitate direct dialogue between LPRA and the global upstream community, connecting companies with policymakers and industry stakeholders involved in shaping Liberia’s next chapter of petroleum development.

As exploration companies continue to seek new frontier opportunities, Liberia Investor Day Houston will highlight the role of regulatory certainty, data availability and strategic partnerships in unlocking long-term investment across Liberia’s offshore sector.

Registration is now open for attendees. Companies interested in Liberia’s emerging offshore opportunities are invited to join LPRA, investors and upstream leaders in Houston for insights into the country’s licensing strategy and exploration outlook. For more information contact info@energycapitalpower.com.

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

 

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Beyond Stabroek: Guyana’s Offshore Basin Attracts New Wave of Exploration Investment

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As ExxonMobil advances appraisal activity in Stabroek and new operators target frontier acreage, Guyana is attracting global capital and building a diversified offshore portfolio designed to sustain long-term growth

GEORGETOWN, Guyana, August 7, 2026/APO Group/ –Guyana’s transformation into one of the world’s fastest-growing oil producers is entering a new phase, with a growing network of IOCs expanding exploration activity across the country’s offshore basin. Beyond the landmark discoveries that first put Guyana on the global energy map, new drilling campaigns and licensing partnerships are creating a broader exploration ecosystem designed to support long-term production growth.

At the center of this momentum is ExxonMobil’s continued exploration and appraisal activity in the prolific Stabroek Block. The company has submitted a proposal for a 35-well exploration and appraisal drilling campaign, expected to run from 2028 through 2033, pending regulatory approval. The program would build on more than 30 commercial discoveries already made in the block, with drilling activity focused on evaluating new prospects and appraising existing discoveries to support future development opportunities.

Exploration activity is also extending into Guyana’s frontier acreage, with ExxonMobil advancing drilling operations at the deepwater Canje Block. The company has deployed the Noble Stena Carron drillship for exploration activity, highlighting continued industry interest in evaluating Guyana’s underexplored offshore potential beyond the established Stabroek Block.

Guyana’s strong exploration outlook comes as the country’s economy continues to benefit from rapid oil sector expansion, with hydrocarbons expected to remain a key driver of exports, government revenues and economic growth. As production scales up, attracting additional investment across exploration, services and infrastructure will be critical to supporting the next phase of development.

That momentum is being reinforced through partnerships established under Guyana’s 2023 offshore licensing round. A consortium comprising TotalEnergies, QatarEnergy and Petronas is advancing exploration activities in Block S4 under a five-year production sharing agreement signed with the government in late 2025. The award represents one of the first major outcomes of the licensing round and demonstrates continued international confidence in Guyana’s offshore resource potential.

Beyond the largest operators, a diverse group of companies is also expanding activity across Guyana’s offshore basin. Eco Atlantic is advancing exploration at the Orinduik Block; CGX Energy and Frontera Energy are progressing work in the Corentyne Block; Occidental is evaluating opportunities in the Roraima Block; while Ratio Guyana and Cataleya Energy hold interests in the Kaieteur Block. Together, these partnerships are broadening Guyana’s exploration landscape, increasing competition for acreage and creating opportunities for future discoveries.

As Guyana transitions from an emerging producer to a global energy hub, the next challenge will be converting exploration success into sustainable investment, local value creation and regional growth. These opportunities will be explored at Caribbean Energy Week 2027, held under the theme “Unlocking the Caribbean Energy Corridor: Oil, Gas, LNG & Investment for a New Global Hub.” Bringing together governments, IOCs, investors and technology providers, the event will examine how Guyana’s expanding partnerships can accelerate offshore development, strengthen regional energy cooperation and attract the capital needed to support the Caribbean’s evolving energy landscape.

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

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Energy Capital & Power Establishes London Entity, Expanding Global Platform for Energy and Mining Events

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The move strengthens ECP’s presence in the UK and Europe, and its ability to connect African and South American markets with global investors

LONDON, United Kingdom, August 6, 2026/APO Group/ –International events company Energy Capital & Power (ECP) (www.EnergyCapitalPower.com) has officially established its UK entity in London, marking a milestone in the company’s growth strategy and reinforcing its ability to deliver world-class energy and mining events and campaigns in the UK and Europe.

By establishing a presence in a key hub like London – the pre-eminent energy and mining finance center – ECP actively shapes the global energy conversation. The expansion positions ECP to better serve clients, partners and investors seeking to develop business opportunities between Africa, Europe, the Americas and energy markets worldwide.

Opening our UK company brings ECP closer to key investors in the global energy finance capital

The milestone comes as ECP strengthens its reach through a series of investment platforms that connect global capital to energy and mining projects. These include the Venezuela Energy Week London Showcase on July 30 – with over 300 delegates registered – and the annual Invest in African Energy Forum, held in Paris as the premier event connecting global investors to Africa’s energy transformation.

ECP hosts high level summits and investor conferences in leading energy and minerals producing countries in Africa and South America, including: Venezuela Energy Week; Angola Oil & Gas; MSGBC Oil, Gas & Power; African Mining Week; Libya Energy & Economic Summit; Congo Energy & Investment Forum; South Sudan Oil & Power; and Caribbean Energy Week. The company has hosted investor forums and supported licensing round roadshows in Houston, London and Paris since 2016.

“Opening our UK company brings ECP closer to key investors in the global energy finance capital,” states CEO James Chester. “Having a permanent presence in London further cements our footprint in Europe, enabling us to fulfil our mission to bring minerals and energy investment to diverse global markets.”

With teams located across Africa, Europe and the Americas, ECP has long-facilitated strategic engagement, market intelligence and industry convening, uniting investors with leading energy and mining projects.

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

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