The National Petroleum Corporation of Namibia (NAMCOR) says there is huge potential for more hydrocarbon or petroleum discoveries to be made in Namibia, with both land and offshore areas underexplored.

This was revealed by NAMCOR experts during a technical session on Namibia's Regional Petroleum Potential at the Namibia International Energy Conference in Windhoek today 

During the session, the experts revealed that Namibia is home to four recognised offshore basins and two onshore basins, in which more than 30 exploration wells have been drilled to date. 

The Executive for Information and Communication Technology at Namcor, Bonifatius Konjore, has been suspended following allegations related to a substantial payment of N$68 million for an organisational operations software system that is reported not to be fully functional.

Konjore, entrusted with the responsibility of managing and directing the development and implementation of multi-disciplinary integrated application systems, has 27 years of experience in the ICT sector, with extensive experience in the telecommunications, government, and utility sectors. 

Policy analyst Dr. Marius Kudumo has expressed concerns about how those entrusted with overseeing the management of public institutions are undermining the principles of good corporate governance.

Dr. Kudumo's expert opinion adds significant weight to the growing scepticism surrounding the integrity of Namibia's anti-corruption efforts.

Good corporate governance is about ensuring that the duties and responsibilities of board members and management are clearly delineated and respected.

The Anti-Corruption Commission (ACC) has cleared suspended NAMCOR managing director Immanuel Mulunga of any wrongdoing.

In a brief statement, ACC Director Paulus Noa says that there is no evidence to prove that Mulunga had criminal intent when he transferred money to an Angolan-based oil company.

Noa says that though Mulunga had no authorisation from the board when he transferred over N$100 million, he did so in the best interest of the company and the country.

Namcor faces a daunting public relations exercise to regain the trust of the Namibian people after damaging negative media reports over the past few weeks.

Allegations of discrepancies of epic proportion hang over the heads of officials at the national oil company.

Its Managing Director Immanuel Mulunga remains under scrutiny for over N$100 million reportedly paid for two oil blocks in Angola, without board approval.

The leader of the official opposition, McHenry Venaani, has called for the suspension of the National Petroleum Corporation of Namibia's (NAMCOR) Managing Director, Immanuel Mulunga.

Venaani says the nature of current events at the state oil company calls for an integrity inquiry and therefore wants the Minister of Finance and Public Enterprises, Iipumbu Shiimi, to act within 48 hours.

The Popular Democratic Movement (PDM) will also move a motion in Parliament to initiate a parliamentary investigation into the allegations leveled against senior management at NAMCOR.

NAMCOR's Board Member, Jennifer Comalie who was arrested yesterday for possession of illicit drugs was granted bail of N$7000 in the Windhoek Magistrate's Court today.

The matter has been postponed to 31 July for further investigation. 

The media, members of the public including some prominent figures were among those gathered in the Windhoek Magistrate's Court in anticipation of the first appearance of Namcor's board member who stands accused of being in possession of illicit drugs.

NAMCOR has approached top lawyer Sisa Namandje, threatening to approach the court for the daily publication “The Namibian".

“The Namibian” last week published leading stories surrounding troubles at the parastatal.

One of its headlines read 'NAMCOR board investigates Mulunga for N$100 million Angola oil blocks payment' and another 'NAMCOR's power struggle exposes suspicious deals'.

The lawyer said the two articles published by The Namibian were not published in the public interest but rather in a manner that disregards NAMCOR's rights.

JUST IN | The Ministry of Mines and Energy has announced N$1.00 per litre decrease in petrol prices, while diesel will remain unchanged. 

The ministry has also decided to reinstate the road user charges (RFA) and MVA levy to their original levels while the NAMCOR levy remains at the current level until further notice

This is effective from this Wednesday, 05/10/2022.