National Petroleum Corporation of Namibia

What National Petroleum Corporation of Namibia does

National Petroleum Corporation of Namibia (NAMCOR) is the state-owned national oil company of Namibia, established under the Petroleum (Exploration and Production) Act of 1991 with the Government of the Republic of Namibia as sole shareholder. The company operates across the full oil and gas value chain, with upstream activities encompassing 30 petroleum exploration licenses covering 825,418 km² of offshore and 470,000 km² of onshore basins, working interests in Angola's Sonangol Blocks 15/06, 23, and 27, operated PELs in the Orange, Walvis and Luderitz basins, the in-development Kudu Gas-to-Power Project targeting 420MW, and a Petroleum Data Centre that is the sole custodian of Namibia's 60+ year E&P data archive sold to international investors.

Downstream, NAMCOR operates an integrated petroleum products platform comprising a wholesale license for 100% of its own import requirements, the 75 million litre National Oil Storage Facility (NOSF) and 2-berth tanker jetty at Walvis Bay, owned and equity depots at Otjiwarongo, Keetmanshoop, Gobabis and elsewhere, a retail network of 11 NAMCOR-branded service stations with Deli Express convenience shops along the B1 corridor, NAMCOR-branded lubricants for mining applications, marine bunkering services (including sole VLSFO importer status), and aviation fuel supply with JIG-standard storage. Pricing on ADO and ULP wholesale is government-regulated, while VLSFO follows competitive market pricing.

Customers span government and parastatals (notably NAMPOWER as the Kudu Gas offtake target), major uranium mining operators, transport and construction firms, international bunkering clients at Walvis Bay, and retail consumers. Revenue streams include petroleum product sales, exploration data licensing, retail fuel, bunkering, and carried upstream participation. NAMCOR is governed by a Board of Directors and an executive team; the role of Managing Director has seen repeated acting appointments since 2024, signalling near-term governance flux alongside material expansion of its upstream portfolio and downstream infrastructure.

Name

National Petroleum Corporation of Namibia

Legal name

National Petroleum Corporation of Namibia

Website

https://namcor.com.na

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

101–250 employees

Short description

NAMCOR is Namibia's state-owned national oil company, operating across the full oil and gas value chain: upstream exploration across 30 licenses and Angola blocks, the Kudu Gas-to-Power Project, and downstream wholesale, retail (11 stations), bunkering, and lubricants serving government, mining, transport, and SADC export markets.

Ownership category

akta.pro rank

Product category

Integrated Oil and Gas

NAICS

Oil and Gas Extraction (211), Crude Petroleum Extraction (21112)

SIC

Crude Petroleum & Natural Gas (1311), Oil & Gas Field Exploration Services (1382)

akta.pro primary industry

Production Operations & Well Optimization (Artificial Lift, Flow Assurance) (EUALAAAF)

akta.pro secondary industries

Oil & Gas Midstream & Pipeline O&M (Pipelines, Compressor Stations) (EUAEAGAF), Conventional Natural Gas Exploration & Production (Dry Gas) (EUAAAAAA)

Keywords

• National oil company
• Petroleum products distribution
• Upstream exploration licenses
• Fuel retail stations
• Lubricants manufacturing

Headquarters

HQ city

Windhoek

HQ country

Namibia

HQ region

Africa

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Petroleum Product Sales: Wholesale and retail sale of petroleum products including diesel, petrol, VLSFO, and lubricants to government, parastatals, mining companies, transport operators, construction firms, and retail consumers.
2. Exploration Data Sales: Sale of 2D and 3D seismic data, well data, technical reports, core samples, and gravity/magnetic data to potential investors and operators in Namibia.
3. Retail Fuel Stations: Revenue from 11 operating retail service stations with convenience shops (Deli Express), offering fuel, food, Wi-Fi, and grocery products to consumers.
4. Bunkering Services: Supply of marine fuels (MGO and VLSFO) to local and international vessels at Walvis Bay, with onshore and tanker jetty operations.
5. Upstream Asset Participation: Working interests in petroleum exploration licenses including Blocks 15/06, 23, 27 (Angola), PEL 67, 72, 79, 82, 102 (Namibia), and Kudu Gas Project.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

NAMCOR is Namibia's national oil company, mandated under the Petroleum (Exploration and Production) Act of 1991 to carry out reconnaissance, exploration and production of petroleum. It operates the full petroleum value chain: upstream (operated exploration licenses in the Orange, Walvis and Luderitz Basins, seismic and well data sales, working interests in the Kudu Gas Project and Angola Blocks 15/06, 23 and 27) and downstream (wholesale and retail sale of petroleum products such as diesel, petrol, VLSFO and lubricants, plus operations at the 75 million litre National Oil Storage Facility and 11 retail service stations).

Product overview

NAMCOR operates as an integrated national oil company with a platform-plus-services architecture spanning the entire oil and gas value chain. The core product portfolio includes NAMCOR Retail Service Stations (featuring Deli Express convenience shops), NAMCOR Lubricants, and NAMCOR Commercial Fuels (ADO, ULP, VLSFO) for mining, bunkering, aviation, and B2B sectors. Upstream offerings comprise Exploration Assets (operated PELs 67, 72, 79, 82, 102), Seismic and Well Data Sales, Block participation (15/06, 23, 27), and the Kudu Gas Project. Infrastructure includes the National Oil Storage Facility (NOSF) at Walvis Bay with 75 million litre capacity. Supporting services include the Petroleum Data Centre, GIS Portal, E-Recruitment platform, and Supply & Logistics operations with depots in Otjiwarongo, Gobabis, and Walvis Bay.

Differentiator

Problem solved

Functional benefit

Brands

• Deli Express: Convenience shops offering a wide choice of cuisine, refreshments and grocery products at NAMCOR retail fuel station locations.

Products and services

• NAMCOR Retail Service Stations NAMCOR-branded fuel retail stations across Namibia, located along the B1 National Road and in residential areas, offering fuel and convenience shopping via Deli Express shops. Target users are motorists, long-distance travellers and neighbourhood consumers.
• NAMCOR Lubricants NAMCOR-branded lubricants produced and packed under the NAMCOR brand, covering five major downstream applications: Engine Oils, Gearbox/Transmission Oils, Hydraulic Oils, Differential and Multipurpose Gear Oils, Compressor Oils, and Greases. OEM-approved and supplied to mining companies and other industrial customers.
• NAMCOR Commercial Fuels
• NAMCOR Seismic and Well Data Sales
• Deli Express Convenience Shops
• National Oil Storage Facility (NOSF) State-of-the-art 75 million litre capacity National Oil Storage Facility in Walvis Bay consisting of a tanker jetty with 2 berths (max 90,000 DWT vessels), 4 dedicated pipelines covering 7.8km, Terminal Management System, firefighting system, nitrogen plant, and storage tanks for Diesel, ULP, JET-A1, HFO and VLSFO. Operated by NAMCOR on behalf of the Namibian Government, providing storage and handling services to oil marketers and serving as the country's strategic fuel reserve.
• NAMCOR Exploration Assets (PELs)

Quantifiable outcome

• Security of fuel supply increased from 7-10 days to 30-45 days
• +2 more outcomes

Named customers6 records

Segments7 records

Ideal customer profiles8 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

15 partnerships are on record, tiered regional, major and core.

• NIPDB (Namibia Investment Promotion and Development Board)regionalStrategic or Co-development Partner · 18 August 2026Co-host of 4th Namibia Oil and Gas Conference 2026 in Windhoek, focused on inclusive growth and local participation in oil and gas sector.
• SubSea7majorTechnology or Integration · 1 April 2025NAMCOR and SubSea7 signed MoU to strengthen offshore energy development in Namibia, focusing on subsea engineering and installation capabilities for deepwater projects.
• SLBmajorTechnology or Integration · 1 October 2024NAMCOR signed MoU with SLB to advance energy collaboration, focusing on digital transformation, subsurface solutions, and technical services for exploration and production operations.
• ChevroncoreStrategic or Co-development Partner · 1 May 2024NAMCOR signed farm-out agreement with Chevron for PEL-82 offshore Namibia. PEL 82 covers Blocks 2112B and 2212A in the Walvis Basin with 11,444 km2 acreage and water depth of 300-2000m. NAMCOR retains 50% interest with Custos Energy holding 50%.
• PetroSAregionalStrategic or Co-development Partner · 1 November 2022NAMCOR signed MoU with PetroSA (Petroleum Oil and Gas Corporation of South Africa) for regional cooperation in oil and gas sector.
• TECHNIP EnergiesmajorStrategic or Co-development Partner · 1 October 2022NAMCOR signed MoU with TECHNIP Energies for technical collaboration in energy sector development, potentially including gas monetization and offshore development projects.
• Sonangol P&PcoreStrategic or Co-development Partner · 12 April 2022NAMCOR and partners successfully bid for Blocks 15/06, 23 & 27 in Sonangol divestment process. NAMCOR acquired 10% working interest in Block 15/06, 40% in Block 23 (with operatorship), and 35% in Block 27. TRACS International conducted technical review identifying approximately 55 million barrels of technically recoverable volumes for Block 15/06.
• ReconAfricacoreStrategic or Co-development Partner · 1 June 2021NAMCOR signed Joint Operating Agreement with ReconAfrica for Kavango Basin exploration. ReconAfrica drilled three stratigraphic wells (Mbambi, Kawe, Makandina) and acquired over 700 line-km of 2D seismic data in the Okavango Basin.
• BW Kudu (BW Energy)coreStrategic or Co-development PartnerNAMCOR holds 5% carry with 5% back in right in Kudu Gas Project operated by BW Energy (95%). Joint venture is preparing for FEED activities to develop gas-to-power solution with 3 wells, offshore floating production facility, and 195km pipeline to nearshore power plant targeting 420MW.
• Quiver Oil & Gas Pty LtdcoreStrategic or Co-development PartnerQuiver Oil & Gas holds 33% interest in PELs 67 & 72 (Blocks 2714A&B) covering 10,945 km2 in the Orange Basin. NAMCOR operates with 67% interest.
• Giraffe Energy Investments Pty LtdcoreStrategic or Co-development PartnerGiraffe Energy Investments holds 33% interest in PEL 79 (Blocks 2815 & 2915) covering 13,829 km2 with water depth 0-210m in the Orange Basin. NAMCOR operates with 67% interest.
• Custos Energy (Pty) LtdcoreStrategic or Co-development PartnerCustos Energy holds 50% interest in PEL 82 (Blocks 2112B & 2212A) in Walvis Basin with NAMCOR retaining 50% and operatorship. Acreage is 11,444 km2 with water depth 300-2000m.
• Nasmam Investment Pty LtdcoreStrategic or Co-development PartnerNasmam Investment holds 30% interest in PEL 102 (Block 2614B) in Luderitz Basin covering 15,510.8 km2 with water depth 0-210m.
• Economic Association of NamibiaregionalStrategic or Co-development PartnerPrimary host of 4th Namibia Oil and Gas Conference 2026 with theme 'From Decision to Dividend: Making Namibia's Oil Work for Namibians'.
• NAMCORregionalStrategic or Co-development PartnerStrategic partner for Namibia Oil and Gas Conference 2026, contributing to local content panel discussions and supplier workshops.

Scale indicators8 records

Recent moves9 records

Expansion highlights5 records

Broad incumbents

• Puma Energy: A pan-African and global downstream fuel retailer and trader shown as a NAMCOR partner logo, operating retail networks, bulk storage, and bunkering across Namibia and SADC, directly competing with NAMCOR's downstream and retail operations.
• Engen: South African-headquartered downstream oil company in which NAMCOR holds a 25% shareholding in the Keetmanshoop depot. Engen operates a major fuel network across Southern Africa and competes directly with NAMCOR in retail and commercial fuels.
• Galp Energia: Portuguese integrated energy company with significant upstream interests in the Orange Basin (Mopane discovery) offshore Namibia. Operates as a major IOC peer in the same Namibian exploration plays that NAMCOR holds working interests in.

Direct peers

• BW Energy: Operator of the Kudu Gas Project holding a 95% interest, with NAMCOR as a 5% carry partner. A directly comparable upstream peer operating in Namibian waters with gas-to-power development ambitions.
• Ghana National Petroleum Corporation (GNPC): Ghana's national oil company with an integrated upstream exploration, production, and gas-to-power mandate, closely mirroring NAMCOR's PEL-led exploration model and national energy security role.
• Tanzania Petroleum Development Corporation (TPDC): Tanzania's national oil company with state-mandated upstream exploration, data stewardship, and downstream involvement, structurally analogous to NAMCOR's PEL operating model and national data center role.
• Reconnaissance Energy Africa (ReconAfrica): Joint Operating Agreement partner with NAMCOR on Kavango Basin exploration, having drilled three stratigraphic wells and acquired over 700 line-km of 2D seismic. Directly comparable as a junior exploring frontier acreage in Namibia alongside the national oil company.
• Sonangol: Angola's national oil company and direct counterparty in NAMCOR's acquisition of working interests in Blocks 15/06, 23, and 27. Comparable integrated NOC structure with upstream production and downstream operations in Southern Africa.
• PetroSA (Petroleum Oil and Gas Corporation of South Africa): South Africa's national oil company and a named partner of NAMCOR via an MoU for regional cooperation. Both are state-owned integrated NOCs in Southern Africa with upstream exploration and downstream product distribution mandates.

Emerging players

• Custos Energy: Holds 50% interest alongside NAMCOR in PEL-82 (Walvis Basin) and participates in PEL 102, making it a direct exploration partner and emerging Namibian offshore player comparable in scope to NAMCOR's operated acreage.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/namcornamibia

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about National Petroleum Corporation of Namibia