Theft of an Estimated N$1 Million of Fuel At NOSF

Windhoek, Namibia: The National Petroleum Corporation of Namibia; NAMCOR has discovered the potential theft of fuel of an estimated value of over N$1 million, while in transit from the National Oil Storage Facility (NOSF) in Walvis Bay en route to one of its major bulk clients. This follows the loading of 39,993 litres of diesel ADO 50 ppm in December 2023 and 39,891 of the same product in January 2024. Despite loading documents suggesting that the two loads were destined for a customer site, there is no evidence of the product having arrived or received by the bulk fuel customer.

NAMCOR has conducted an extensive internal investigation which included theft of fuel. Last week NAMCOR proceeded with opening a case of theft with the Walvis Bay Police and is collaborating closely with the regional law enforcement authorities to resolve this matter. An interesting development with a bearing to this matter is the timing of the resignation of the truck driver who transported the two loads. The driver worked for one of the companies contracted by NAMCOR to transport fuel on its behalf and resigned last week Thursday, 8 February 2024.

Interim NAMCOR Managing Director Ebson Uanguta said the company is committed to leaving no stone unturned in addressing this unbecoming behaviour. “We are working around the clock to ensure that the culprits responsible for this bear the full consequences of their actions.” He added that there is a legal and moral obligation imposed upon NAMCOR to operate in accordance with the highest standards commensurate with a national oil company. He assured clients, stakeholders, and the general public of the company’s unwavering commitment to serving them to the best of its abilities.

In conclusion, NAMCOR reiterates its commitment to transparency and accountability. While the corporation will not disclose commercially sensitive information or any information that may impede ongoing investigations, it will provide stakeholders with updates at appropriate times. NAMCOR remains steadfast in its pursuit of justice and the protection of its assets and maintains its focus on delivering reliable as well as securing energy solutions to the nation.

NAMCOR Announces Significant Oil Discovery in Block 2813A (PEL83), Orange Basin, Offshore Namibia

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Windhoek, Namibia. The National Petroleum Corporation of Namibia; NAMCOR with 10% carried interest, in conjunction with its partners Galp Energia (80%, operator) and Custos (10%), is excited to announce a significant oil discovery in the Mopane-1X exploration well, situated in the PEL83, Orange Basin, offshore Namibia.


Following the initial announcement on January 2, 2024, PEL 83 JV partners have now confirmed the discovery of a significant column of light oil in high-quality, reservoirbearing sands in the Cenomanian-Turonian interval. This is the second oil discovery in the Upper Cretaceous Orange Basin, demonstrating a working petroleum system in the Upper Cretaceous in addition to the proven hydrocarbon presence in the Lower Cretaceous by 2022 oil discoveries. This discovery is a pivotal moment in Namibia’s journey towards becoming an influential player in the global energy market PEL 83 JV partners are set to continue the analysis of the acquired data and plan to perform a Drill Stem Test (DST) in the coming weeks. This test is crucial for assessing the commercial potential of the discovery.


The Mopane-1X drilling operations will proceed to explore deeper targets within the block. Upon completion of these operations, the rig will relocate to the Mopane-2X site to further evaluate the extent of the discovery.


Mr. Shiwana Ndeunyema, Interim Managing Director of NAMCOR, expressed great enthusiasm about this breakthrough, stating: “This is an amazing time for Namibia and NAMCOR. The Mopane-1X discovery is not just a significant achievement for our organization but also a beacon of hope for the entire nation’s economic future. We are immensely pleased with these results and excited about the potential opportunities this opens up for our country.”


NAMCOR remains committed to its mission of exploring and responsibly developing Namibia’s petroleum resources, and this discovery is a testament to the organization’s dedication and expertise.


About NAMCOR: The National Petroleum Corporation of Namibia; NAMCOR is a state-owned entity, responsible for the exploration, production, and marketing of Namibia’s petroleum resources.