QatarEnergy and the Namibia Ministry of Mines and Energy have signed a memorandum of understanding (MoU) to enhance their corporation in the energy sector.
Through the MoU, the two parties will continue to cooperate and work on areas including workforce development, knowledge sharing and studying further investment opportunities in the Southern African country.
Commenting on the MoU, QatarEnergy president and CEO and Qatar Minister of State for Energy Affairs Saad Sherida Al-Kaabi said: “We are pleased to further enhance our cooperation with the Government of Namibia and build on our recent successes. This agreement further strengthens our relationship as we work jointly towards a prosperous future.”
Recently, QatarEnergy and its partners discovered oil in the Jonker-1X well in the Orange Basin, offshore southern Namibia.
Following drilling to a total depth of 6,168m in 2,210m water depth using the Deepsea Bollsta semi-sub rig, the Jonker-1X well confirmed the presence of a reservoir containing light oil.
Shell is the operator of the Namibian block with a stake of 45% while QatarEnergy and National Petroleum Corporation of Namibia hold stakes of 45% and 10%, respectively.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
The discovery adds to the previous two separate oil and associated gas finds made in 2022 in the same basin.
Currently, QatarEnergy holds stakes in three exploration licences offshore Namibia that cover a total area of more than 28,000 km². These include PEL-39 (45%), PEL-56 (30%) and PEL-91 (28.33%).