NAMCOR (National Petroleum Corporation of Namibia) is Namibia’s state-owned national oil company, mandated to manage the state’s commercial interests across the petroleum value chain. The company participates in upstream exploration and potential production, typically through joint ventures and carried interests with international partners, and holds stakes in offshore exploration licenses across Namibia’s basins.
In the downstream segment, NAMCOR imports, stores, and distributes refined petroleum products and lubricants in the domestic market, operates a service-station network, and helps manage national strategic fuel stocks, including facilities at Walvis Bay. The company also provides petroleum data management and technical advisory services that support licensing and sector governance. Through these roles, NAMCOR contributes to Namibia’s energy supply security and the development of its emerging oil and gas industry.
chemXplore tracks 1 project involving NAMCOR, of which one is active.
NAMCOR's role on them: Owner.
1 new construction.
Targeting: Crude oil (1)
4% annual energy growth to 2030; $10bn free cash flow uplift 2025–2030; $14–17bn/yr capex 2027–2032; dividend +5%/yr to 2030 and planned buybacks.
Completes swap with Galp to operate PEL83 (Mopane); secures 40% operated stake and plans appraisal from H2 2026 with a three‑well campaign targeting FID in 2028.
Entry into Namibia via PEL 90 gives access to a drill-ready Orange Basin prospect scheduled for testing in 2026; closing subject to regulatory approvals.
Merlin-1X in PEL 0039 shows light oil, good reservoir quality and limited associated gas; it is the tenth well drilled under the licence.
Subject to Namibian approvals, the acquirer will operate PEL97, PEL99 and PEL100 in the Walvis Basin; Eco Atlantic and NAMCOR remain partners. Move builds on recent Azule Energy discoveries.
TotalEnergies becomes operator of PEL104 in Namibia, partnering with Petrobras, Namcor, and Eight. The deal awaits approval from Namibian authorities and partners.
TotalEnergies acquires 40% in PEL83, Galp gets 10% in PEL56. Exploration campaign planned. Transaction completion expected in 2026.
Galp swaps 40% of PEL 83 for stakes in PEL 56 and PEL 91, with TotalEnergies assuming operatorship and sharing exploration costs. Approval expected by 2026.
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