NAMCOR ups exploration ante

The National Petroleum Corporation of Namibia and international seismic company Polarcus recently signed a Memorandum of Understanding that will significantly change the way NAMCOR searches for hydrocarbons.

Polarcus is expected to assist NAMCOR enhance its exploration capabilities by providing 3D and 2D marine seismic acquisition and processing services together with its geoscience expertise, explained Stephen Doyle of Polarcus. “Namibia has an extensive yet still relatively unexplored shelf and we are excited at the opportunity to collaborate with NAMCOR on several initiatives to assist in realizing Namibia’s full potential. The country has seen an upturn in exploration activity over recent years with encouraging results that justifies further exploration and development to unlock Namibia’s petroleum resources.”
Equally upbeat about the agreement, NAMCOR’s acting Managing Director Ludwig Kapingana remarked that “the accord provides an opportunity for the national oil company to get much needed technical support”, which he is confident will “strengthen NAMCOR’s participation in future hydrocarbon exploration activities in Namibia”.
This week NAMCOR said it not yet ready to provide additional information upon request by the Economist.