Namcor ready to run fuel storage facility

14 November 2019 | Business

The Petroleum Corporation of Namibia (Namcor) expects to take delivery of the strategic fuel storage facility next month, a company official has told Namibian Sun.

Namcor spokesperson Utaara Hoveka says the government is keen to get the facility up and running.

Namcor was supposed to find a technical partner to assist it in managing the facility, but this plan was abandoned. “We revisited our initial position to have a technical partner, and decided to run the facility ourselves,” Hoveka said.

“The initial idea was to get a technical partner but it would have been a lengthy process. The desire of the shareholder [government] was to put the facility into operation. It could have taken over a year to get a technical partner to run the facility with.”

He said Namcor was ready to take control of the facility on 1 December.

“Namcor is on course to take over the operations of the bulk fuel facility. All preparations are under way to realise this,” he said.

Given that it is the first facility of its kind being set up in Namibia, Hoveka was asked whether Namcor had enough skilled people to run it.

“We came up with a structure for the facility after doing comparative studies of similar facilities around the world. The positions were advertised in the local media, and we were fortunate enough to poach competent staff from other organisations,” he replied.

He said about 30 people are already stationed at the facility in Walvis Bay.

Hoveka was also asked where Namcor would be sourcing its fuel from.

“Namcor will procure fuel from the international market. Companies that will be hosted at the facility will also procure their own stock,” he said.

Construction of the N$5.6 billion facility started in 2014. It was initially estimated to cost the government N$900 million, but the construction costs shot up to N$5.6 billion.

Namcor had said in the past that the country's limited capacity to store oil justified its construction.

The facility will store 70 million litres of petroleum products such as petrol, diesel and paraffin.

OGONE TLHAGE

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