What are updates and news from NAMCOR in the past year?   

Over the past year, NAMCOR has made significant strides both on the upstream front and in our strategic repositioning. Notably, we have advanced our participation in several exploration campaigns, including our equity interest in some of the recent offshore discoveries. On the operational side, we have continued to build local capacity, enhance governance structures, and improve efficiencies across the business. 

Can you provide an overview of NAMCOR’s project pipeline in Namibia, and progress made?

NAMCOR holds interests in multiple blocks across the Orange and Walvis basins, where exploratory activities have yielded promising results. We are working closely with our partners and operators such as TotalEnergies, Galp, BW Kudu, Rhino Resources, and Shell to ensure these developments proceed responsibly and deliver long-term value. We are also engaged in seismic acquisition, appraisal drilling, and early-stage development planning on several fronts. This pipeline demonstrates the depth of Namibia’s hydrocarbon potential and NAMCOR’s growing influence in shaping it.

How will the role of NAMCOR be transformed once the country becomes a full-fledged producer?

NAMCOR’s role will evolve to that of a more commercially driven, technically proficient national oil company. We will serve as the government's partner in key producing assets while ensuring effective oversight. Additionally, our operational competencies will deepen, allowing us to play a greater role in field development, midstream coordination, and regulatory compliance, while also facilitating local content and skills transfer.

How does NAMCOR ensure that the oil and gas industry delivers value for the country?  

Our mandate is to serve the national interest, and we do so through partnership with reputable Oil and Gas companies, responsible resource management, and ensuring that our carried interests translate into real socio-economic benefits. NAMCOR advocates for local procurement, skills development, and technology transfer in all ventures we participate in. We are also collaborating with government and industry to ensure that revenue frameworks, environmental standards, and community engagement remain robust and aligned with Namibia’s development goals.

What are NAMCOR’s priorities for the coming year?

Our key priorities include supporting Namibia's transition into an oil-producing nation by participating in the development of producing assets, while further strengthening NAMCOR’s technical, operational, and commercial capabilities.

We are also expanding our downstream bulk trading and B2B fuel sales operations to serve industrial and strategic clients more efficiently. This includes exploring storage optimisation and regional market growth, positioning NAMCOR as a dependable supplier in Southern Africa.

Equally important is investing in our people, developing internal capacity, fostering a performance-driven culture, and creating long-term career pathways that align with the evolution of the industry. These efforts are designed to ensure that NAMCOR remains sustainable, competitive, and ultimately delivers consistent value and returns to its sole shareholder, the Government of the Republic of Namibia.