News listings

energy-pedia general news

LEKOIL announces Strategic Alliance Agreement with NAMCOR


29 Oct 2020

Photo - see caption

LEKOIL, the oil and gas exploration and production company with a focus on Nigeria and Africa, has entered into a Strategic Alliance Agreement ('SAA') with NAMCOR E&P through its subsidiary, LEKOIL Namibia.

NAMCOR E&P, a subsidiary of the national oil company of Namibia, namely the National Petroleum Corporation of Namibia ('NAMCOR'), seeks to invest capital in the acquisition of interests in well-managed oil producing assets in politically stable jurisdictions as a means of securing long-term sustainability. The SAA will leverage the technical capabilities of the respective parties towards the joint evaluation and acquisition of low-risk quick-to-production oil and gas assets across Africa.

LEKOIL has a long-standing history in Namibia with its holding of an 80 per cent. stake in LEKOIL Namibia, providing an entitlement to 90 per cent. of income distributed by the Subsidiary. LEKOIL Namibia previously owned a 77.5 per cent Participating Interest in two Namibian offshore exploration blocks (Blocks 2514A and 2514B) and continues to maintain a strong relationship with NAMCOR.

Lekan Akinyanmi, LEKOIL's CEO, commented:

'We are excited by this opportunity to work with NAMCOR again in evaluating and subsequently investing and developing high value assets within Africa. We look forward to benefitting from the synergies of this partnership as we share our considerable technical experience in oil and gas development and production in Africa.'

Immanuel Mulunga, NAMCOR's Managing Director, added:

'We will greatly leverage from LEKOIL's wealth of experience in operating and managing oil producing assets, as well as its deep knowledge of key African markets. At the same time, I believe LEKOIL will benefit from strategic commercial relationships that NAMCOR, as a national oil company, enjoys with a number of oil majors.'

Original article link

Source: LEKOIL





Bookmark and Share


A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.


Subscriber Only Deals

Current Deals

Current Upstream Deals: 373

Completed Deals

Completed Upstream Deals: 5961

Company Profiles

Current Company Profiles: 2745

Corporate Activity

Current Corporate Activity articles: 3564

Companies Looking

Current number of articles: 444

Company Sales

Current Company Sales articles:1443

Geostudies

Current Geostudies articles: 766

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...


energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...



energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...

Subscribe

Subscribe to the FREE
energy-pedia Daily Newsletter
Subscribe

Rose & Assocs 149
KL Publishing
Bayphase
Union Jack Oil 149
energy365
Government of South Australia
SLR Consulting logo
OPC
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans
UNITED KINGDOM

Tel: +44(0)1727 822675

Email: info@energy-pedia.com