Know your SOEs: Namcor – Immanuel Mulunga

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Name of MD:
Immanuel Mulunga

Board chairperson:
Patrick Kauta

Date of inception/establishment: 1991

Line Ministry:
Ministry of Mines & Energy/Ministry of Public Enterprises

Company’s mandate:
Petroleum Exploration and Production (upstream), Supply, Distribution and Marketing of petroleum products, (downstream)

Economic sector of operation: Petroleum

Branches nationwide:
Windhoek, Otjiwarongo, Walvis Bay, Mariental, Keetmanshoop

Total number of employees: 107

Notable successes:
Custodian of a world-class petroleum geological and geophysical database of Namibia. Highly educated workforce, finding a partner/operator for the development and production of the Kudu Gas to Power project by obtaining relevant approvals from the Ministry of Mines & Energy. The company has achieved a healthy cash position after turning around the fortunes of the company from the insolvency caused by the previous supply contract with Glencore.

Future plans:
Bring the Kudu Gas to Power Project to fruition; enter into the fuel retail industry on behalf of the nation and increase its distribution footprint by constructing depots in strategic towns. Petroleum exploration on and offshore Namibia alone and in conjunction with third party partner companies. Reclaiming the 50% mandate back from the government in order to ensure security of supply for the country.

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