NAMCOR REBRANDS FROM GREEN TO DIFFERENT SHADES OF ORANGE
The National Petroleum Corporation of Namibia has changed both its look and corporate colors from the dominant green oil drop to the orange NAMCOR spiral. Apart from the old brand being outdated, our key strategic objectives, specifically the retail fuel agenda, served as a key motivation for the rebranding. A study of the NAMCOR brand revealed that it was not suitable to be adopted onto our new fuel retail sites. After further extensive research of oil brands locally, regionally and internationally we took the decision to revisit our brand and develop a new brand that is in line with our goals as well as with modern industry trends.
THE ROLE OF E&P
The NAMCOR Exploration and Production Department focuses on upstream activities of the oil and gas industry. Its institutional role is to participate in hydrocarbon exploration on behalf of the Namibian Government and to ensure the optimum exploitation of Namibia’s petroleum resources. Other main upstream activities include being a technical advisory to the Ministry of Mines and Energy, active promotion of Namibian acreage at local and international platforms in order to attract hydrocarbon investments, and storage and brokerage of Namibia’s hydrocarbon exploration data which includes 2D and 3D seismic data, and core and rock cuttings from exploration wells.
At present, one production, 38 exploration, and five reconnaissance licences have been issued by the Ministry of Mines and Energy. NAMCOR has a 10% carried interest in more than 90% of the hydrocarbon exploration licences issued in Namibia. NAMCOR has recently been awarded a 100% working interest in Block 1811A and a 20% working interest in Block 2914A. Both these exploration blocks are located offshore Namibia in the Namibe and Orange Basins respectively. NAMCOR’s participation in hydrocarbon exploration and future production activities ensures a Namibian presence in this industry, while contributing to local capacity building.
Figure 1: Licence map highlighting NAMCOR participation
Hydrocarbon exploration data
- A total of 32 wells have been drilled offshore Namibia (15 exploration, 7 appraisal (KUDU gas field) and 10 ODP/DSPD wells.
- 10 exploration wells have been drilled onshore.
- Namibia has excellent offshore seismic coverage.
~ 147 000 line km of 2D seismic
~ 40 423 km² of 3D seismic data offshore.
- Onshore, the 2D seismic database comprises 2 500 line km of 2D.
- 28 000 km of aeromagnetic data has been acquired covering the whole offshore Namibia.
KUDU GAS PROJECT
The Kudu Gas-to-Power Project is a key strategic power-generation project for Namibia, which will decrease reliance on imported power and accelerate economic development.
NAMCOR has a 44% stake in the national gas to power project:
- PROJECT SHAREHOLDING
- BW Kudu Limited became the operator of the Kudu field on 26 January 2017 and has taken 56% equity in the project.
- NAMCOR will continue engaging potential investors interested in taking up some of the remaining 44% equity.
- DEVELOPMENT CONCEPT
- Three vertical wells are to be drilled and the produced gas will be transported via subsea flowlines to the FPS (gas treatment vessel).
- The treatment gas from the FPS will be transported via export pipeline to the Kudu Power Station, where this gas will be burned to produce electricity.
COMMERCIAL AND MARKETING
NAMCOR markets a range of petroleum-related products ranging from fuels and lubricants to various clients. The corporation’s stakeholders are from various sectors within the economy such as government, mining, transportation, and farming, amongst others. All products marketed by NAMCOR meet Namibian product specifications!
The National Petroleum Corporation of Namibia plans to enter the fuel retail sector are at an advanced stage, with our first retail site expected to become fully operational before the end of 2017. This will be followed by a number of NAMCOR-branded service stations at strategic locations around the country.
The Commercial Business Unit has since its inception established and developed a number of bulk fuel storage depots in key locations, from where it services valued customers.
NAMCOR has successfully refurbished a 650 000 litre capacity state-of-the-art bulk storage depot in Otjiwarongo, from where it trades a full range of refined petroleum products (fuels, lubes and IP) and serves customers in the surrounding areas and government agencies (near north and far north).