Three firms are collaborating in allocating commercially viable petroleum reserves off the Namibian coast.

The National Petroleum Corporation of Namibia (Namcor) will only get 7% of profit shares in the event that oil or gas is found in the Kavango West region.

BW Offshore signed a farm-out deal in order to become operator of the Kudu license offshore Namibia with a 56% stake.

Spectrum, in partnership with the National Petroleum Corporation of Namibia (NAMCOR), has commenced a new project in the Luderitz basin following the successful completion of an extended 2D Multi-Client seismic survey covering the deep water Orange Basin, offshore Namibia.