The National Petroleum Corporation of Namibia (NAMCOR) has now successfully acquired rights to manage the newly-built National Oil Storage Facility, its board chairperson, Jennifer Comalie, announced today. The facility was officially handed over to NAMCOR by the Ministry of Mines and Energy on 1 March this year after undergoing commissioning for several months. The first shipment of commissioning oil stock valued at N$407 million arrived in the country in December last year. NAMCOR has since begun selling the oil from the commissioning process, and has derived income of N$152 million, Comalie added. The petroleum parastatal says they also secured contracts with operators such as Total, Guncor, Vitol, and Vivo, to store their oil, and use it to its full capacity. The main aim of the facility is to improve the security of oil supply in the country from the previous seven to 10 days, in case of disruptions to import from foreign countries to 30 to 45 days.