Polarcus Ltd. and the National Petroleum Corp. of Namibia (NAMCOR) have signed a memorandum of understanding (MOU) that aims to help responsibly explore and develop petroleum resources offshore Namibia. The collaboration involves geoscience initiatives and the provision of specialist business support services, according to a news release.
Under the terms of the MOU, Polarcus will provide 3-D and 4-D marine seismic acquisition and processing services with its geoscience expertise to help promote industry investment offshore Namibia, the release said.
Polarcus said the partnership agreement comes at an opportune time for Namibia, with the country's position on the global hydrocarbon map having seen tremendous growth in recent years.
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