The National Petroleum Corporation of Namibia (NAMCOR) this week announced that it has completed its work on the Kudu gas project. Addressing NAMCOR employees and members of the media was Board chairperson, Johannes !Gawaxab who said that NAMCOR was ready to roll with regards to Kudu.
According to the chairman, British firm BW Offshore has been selected as the preferred technical operator and will take up the 31% equity stake vacated by Tullow Oil. BW Offshore will also finance the 25% left vacant by CIECO following its departure from the Kudu project. Said !Gawaxab, "NAMCOR will cover the remaining 44% through funding from the government as outlined in the Government Support Package."
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