{"id":65115,"date":"2024-03-15T16:41:03","date_gmt":"2024-03-15T16:41:03","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/angolas-oil-and-gas-experience-to-guide-namibia-logistics-base-groundwork-set-to-support-hydrocarbon-development"},"modified":"2024-03-15T17:01:44","modified_gmt":"2024-03-15T17:01:44","slug":"angolas-oil-and-gas-experience-to-guide-namibia-logistics-base-groundwork-set-to-support-hydrocarbon-development","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/angolas-oil-and-gas-experience-to-guide-namibia-logistics-base-groundwork-set-to-support-hydrocarbon-development","title":{"rendered":"Angola\u2019s oil and gas experience to guide Namibia \u2026logistics base groundwork set to support hydrocarbon development"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Namibia. <\/strong><\/span>Namibia will utilise Angola\u2019s oil and gas framework as a guideline for industry development. This, said President Nangolo Mbumba during a visit with Angolan president Joa\u0303o Lourenc\u0327o last week, underscores Namibia\u2019s commitment to strengthening bilateral cooperation with its northern neighbour.<\/p>\n<p>Mbumba met with Lourenc\u0327o in Luanda where the two countries agreed to establish a bi-national commission to advance collaboration in oil and gas. The presidents \u201cunderlined the need to strengthen cooperation in the areas of oil and gas, energy, agriculture and water&#8230;underscoring that Namibia has a lot to learn from Angola in the oil and gas sectors\u201d, according to a statement from the Presidency.<\/p>\n<p>Last week\u2019s neighbourly visit also resulted in a tripartite agreement between the Namibia Ports Authority (Namport) and the respective national oil companies of Angola and Namibia that establishes the groundwork for an integrated logistics base in Namibia to support oil and gas development and trade.<\/p>\n<p>That agreement was penned by Angola\u2019s Sonangol and the National Petroleum Corporation of Namibia (Namcor).<\/p>\n<p>A report by Energy Capital &amp; Power, one of Africa\u2019s leading investment platforms for the energy sector, noted that the Namibian base will replicate the Sonangol Integrated Logistics Services (SONILS) base in Luanda. In this regard, Mbumba invited Angolan companies to work with their Namibian counterparts on emerging industry opportunities.<\/p>\n<p>Moreover, exploration within the Orange Sub-Basin, where several significant hydrocarbon discoveries have been made in the last two years, is expected to remain robust with several companies looking to drill.<\/p>\n<p>Justin Cochrane, Africa Upstream Regional Research Director for S&amp;P Global Commodity Insights, recently stated the results of current appraisal programmes are very important, as they will dictate if and when Namibia\u2019s first oil is produced.<\/p>\n<p>\u201cThe Kudu gas-to-power project is another development to watch, this may be the first commercial hydrocarbon production in the country. The wider industry is optimistic, which is evident by the number of service companies already establishing a presence in the country. The recent discoveries within the Orange Sub-Basin have established Namibia as one of the hottest exploration destinations in the world. The perception that Namibia is stable and its government is open for business certainly makes the country a premier destination for energy investment,\u201d said Cochrane.<\/p>\n<p>Meanwhile, the Bank of Namibia and the National Bank of Angola set the end of 2024 as the deadline for establishing a payment instrument to support bilateral trade, with an agreement for the financial instrument signed last year.<\/p>\n<p>\u201cThe technical work was carried out and assessed at the level of the administrations of the central banks of both countries,\u201d said Manuel Tiago Dias, Governor of the National Bank of Angola.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/namibia\">Namibia<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Namibia. Namibia will utilise Angola\u2019s oil and gas framework as a guideline for industry development. This, said President Nangolo Mbumba during a visit with Angolan president Joa\u0303o Lourenc\u0327o last week, underscores Namibia\u2019s commitment to strengthening bilateral cooperation with its northern neighbour. Mbumba met with Lourenc\u0327o in Luanda where the two countries agreed to [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":65114,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7,249],"tags":[234,236,233],"class_list":["post-65115","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-to-homepage","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Angola\u2019s oil and gas experience to guide Namibia \u2026logistics base groundwork set to support hydrocarbon development - Namibia<\/title>\n<meta name=\"description\" content=\"Namibia will utilise Angola\u2019s oil and gas framework as a guideline for industry development. 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