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Shell positions for oil revival

Senior Shell officials welcomed the the Minister of Mines and Energy, Hon Isak Katali and other government dignataries to the opening of Shell’s new Windhoek offices on Tuesday this week. The Shell high

Officially opening Shell’s new Windhoek office are, from the left, Dennis Zekveld (Shell Namibia Country Chairman), Alistair Milne (Shell VP Sub-Saharan Africa), Obeth Kandjoze, Managing Director of Namcor, Hon Isak Katali, the Minister of Mines and Energy, Rob Donnelly (Shell Senior Advisor Europe and Africa) and Jan Deknatel (Shell Exploration Venture Lead).

Officially opening Shell’s new Windhoek office are, from the left, Dennis Zekveld (Shell Namibia Country Chairman), Alistair Milne (Shell VP Sub-Saharan Africa), Obeth Kandjoze, Managing Director of Namcor, Hon Isak Katali, the Minister of Mines and Energy, Rob Donnelly (Shell Senior Advisor Europe and Africa) and Jan Deknatel (Shell Exploration Venture Lead).

brass expressed their excitement about working in Namibia’s emerging offshore oil and gas industry.
“Earlier in 2014, Shell Namibia Upstream BV (Shell) acquired a 90% controlling interest in Petroleum Exploration License 39 (PEL 39) located offshore Namibia. The license area covers blocks 2913A and 2914B on the Namibian / South African border and measures some 12,000km²” said Dennis Zekveld, Shell Namibia’s Country Chairman.
Flaunting their green credentials, the Shell delegation said the planning of the seismic survey took into account fishing activities and the presence of marine animals and Shell has been constructive in cooperating with the fishing industry on a data gathering exercise.
“Once we receive the seismic data and get an understanding of the geological subsurface, we can interpret this data and make a decision on drilling an exploration well,” said Alastair Milne, Shell’s Vice President for Sub-Saharan Africa.
Giving an update on offshore Namibia, Milne said that the Shell blocks has large potential for oil and gas prospects.  Shell is in the early stages of exploration in Namibia. Experience teaches that it can take a number of years to determine if there are sufficient reserves to progress to an oil and gas production stage.

“Opening an office in Windhoek provides us with an opportunity to work more closely with the people of Namibia and make a real sustainable impact to the country,’ says Dennis Zekveld who has relocated from the US to Namibia to head up the Shell operation.
Shell said it aims to contribute to socio-economic development in Namibia. According to the Country Chairman, Shell collaborates with Namibian partners on skills development, road safety, and educational projects.
“Should commercially viable amounts of oil or gas be found offshore, Namibia could significantly benefit in terms of a stable energy supply, economic growth and job creation.” This is Shell’s second attempt at oil exploration in Namibian territorial waters.

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Following reverse listing, public can now acquire shareholding in Paratus Namibia

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20 February 2020, Windhoek, Namibia: Paratus Namibia Holdings (PNH) was founded as Nimbus Infrastructure Limited (“Nimbus”), Namibia’s first Capital Pool Company listed on the Namibian Stock Exchange (“NSX”).

Although targeting an initial capital raising of N$300 million, Nimbus nonetheless managed to secure funding to the value of N$98 million through its CPC listing. With a mandate to invest in ICT infrastructure in sub-Sahara Africa, it concluded management agreements with financial partner Cirrus and technology partner, Paratus Telecommunications (Pty) Ltd (“Paratus Namibia”).

Paratus Namibia Managing Director, Andrew Hall

Its first investment was placed in Paratus Namibia, a fully licensed communications operator in Namibia under regulation of the Communications Regulatory Authority of Namibia (CRAN). Nimbus has since been able to increase its capital asset base to close to N$500 million over the past two years.

In order to streamline further investment and to avoid duplicating potential ICT projects in the market between Nimbus and Paratus Namibia, it was decided to consolidate the operations.

Publishing various circulars to shareholders, Nimbus took up a 100% shareholding stake in Paratus Namibia in 2019 and proceeded to apply to have its name changed to Paratus Namibia Holdings with a consolidated board structure to ensure streamlined operations between the capital holdings and the operational arm of the business.

This transaction was approved by the Competitions Commission as well as CRAN, following all the relevant regulatory approvals as well as the necessary requirements in terms of corporate governance structures.

Paratus Namibia has evolved as a fully comprehensive communications operator in Namibia and operates as the head office of the Paratus Group in Africa. Paratus has established a pan-African footprint with operations in six African countries, being: Angola, Botswana, Mozambique, Namibia, South Africa and Zambia.

The group has achieved many successes over the years of which more recently includes the building of the Trans-Kalahari Fibre (TKF) project, which connects from the West Africa Cable System (WACS) eastward through Namibia to Botswana and onward to Johannesburg. The TKF also extends northward through Zambia to connect to Dar es Salaam in Tanzania, which made Paratus the first operator to connect the west and east coast of Africa under one Autonomous System Number (ASN).

This means that Paratus is now “exporting” internet capacity to landlocked countries such as Zambia, Botswana, the DRC with more countries to be targeted, and through its extensive African network, Paratus is well-positioned to expand the network even further into emerging ICT territories.

PNH as a fully-listed entity on the NSX, is therefore now the 100% shareholder of Paratus Namibia thereby becoming a public company. PNH is ready to invest in the future of the ICT environment in Namibia. The public is therefore invited and welcome to acquire shares in Paratus Namibia Holdings by speaking to a local stockbroker registered with the NSX. The future is bright, and the opportunities are endless.