Petroleum Africa
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Monday, October 5, 2015
Namibia’s state-run oil and gas firm Namcor is optimistic regarding the long awaited Kudu gas-to-power project. Namcor has to date spent about N$285 million in executing a cabinet directive to develop the Kudu gas field.
During its annual results presentation the chairman, Johannes Gawagab said the company hoped to finalize the technical operator and final contracts by the end of the year.
“The strategic importance of Kudu to Namibia cannot be over-emphasized, as it will ensure energy security for achieving the targets of Vision 2030 and NDP4; will realize the macro-economic benefits of a gas resource, and will ensure Namibia’s electricity tariffs remain competitive,” said Gawagab.
There has been talk of the project being non-financially viable from inside the government but Gawagab denies this. “The choices we make today regarding oil and gas will determine the future of this country for many years to come.”
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