Namcor was on the hook for $10 million. However, when the time came to pay up, it became apparent that Sequa had no funds and Petrolog only $6mn.
The opposition party, the Popular Democratic Movement, called for the government to suspend Mulunga last week. The party also said it would seek a parliamentary investigation “into what appears to be mafia-style corporate governance at Namcor”.
Comalie seems to have asked Mulunga to discipline Willemse, who was involved in the plan to tap the fuel, stored at Walvis Bay. “He may have thought this was a loan, but it is really theft”, Comalie told Mulunga, according to New Era.
Namibia aims to reach production from its Venus and Graff discoveries by 2028, Immanuel Mulunga, managing director of Namcor has said.
Reconnaissance Energy Africa has signed a joint operating agreement (JOA) with Namcor.
BW Energy has signed a deal to increase its stake in the Kudu licence, offshore Namibia, potentially reviving the long-dormant project.
Nigeria’s Lekoil has struck a strategic alliance agreement to find producing assets with Namibia’s state-owned Namcor.
Namibia continues to expect hydrocarbons to be discovered offshore, but in the meantime is working on energy transition plans.