Offshore geophysical company Polarcus and National Petroleum Corporation of Namibia (NAMCOR) have signed an MoU for the exploration and development of Namibia’s offshore petroleum resources
The collaboration will comprise various geoscience initiatives and the provision of specialist business support services.
Under the terms of the MoU, Polarcus and NAMCOR will work together to identify opportunities and develop initiatives to enhance and promote the petroleum potential using Polarcus’ specialist services and expertise. Polarcus will provide 3D/4D marine seismic acquisition and processing services together with its geoscience expertise to help promote industry investment offshore Namibia.
Commenting on the agreement, Stephen Doyle, SVP Multi-Client at Polarcus, said, “Namibia has an extensive yet still relatively unexplored shelf and we are excited at the opportunity to collaborate with NAMCOR on several initiatives to assist in realising Namibia’s full potential.
The country has seen an upturn in exploration activity over recent years with encouraging results that justifies further exploration and development to unlock its petroleum resources,” added Doyle.