In terms of the Namibian company and oil and gas legislation Nave energy qualifies to apply for and participate in the Oil and gas industry. Licenses specifically dealing with oil and gas are provided for under the Petroleum (Exploration and Production) Act 2 of 1991. There are three types of licenses of which the longest has a lifespan of 25 years, i.e. a Production License. The Petroleum Act requires applicants to furnish details of minimum operations and expenditure proposed to be carried out or expended in respect of the block or blocks to which the application relates.
The State has created a Model petroleum agreement to safeguard its interests while at the same time ensuring environmental protection. Applicants for an exploration or production license are required to enter into a binding agreement as provided for by the Petroleum Act. Section 14 of this Act was amended in 1993 “to provide for agreements to be concluded between the Minister of Mines and Energy and license holders relating to training programs and contributions to the Petroleum Training and Education Fund.
The petroleum agreements covers royalty and annual charges, accounts and audits, employment and training, use of Namibian goods and services, domestic supply obligation, et cetera.
We offer comprehensive portfolio.