Government allocates funds to Kudu

03 Oct 2016 18:30pm
WINDHOEK, 03 OCT (NAMPA) – The government has allocated about N.dollars 150 million towards the realisation of the Kudu Gas-to-Power Project.
Minister of Mines and Energy Obeth Kandjoze announced this on Monday during the opening of a two-day Petroleum Upstream Training Seminar in the capital.
He said from the N.dollars 150 million, about N.dollars 42 million has been allocated to the National Petroleum Corporation of Namibia (Namcor) to make sure they find a gas outlet in the implementation of this project.
The main elements of the project are the development of the Kudu gas field and construction of an 800 megawatts combined cycle natural gas-fired power station at Uubvlei in Oranjemund in the //Kharas Region.
Kudu Gas-to-Power Project is estimated to cost US.dollars 1.2 billion (N.dollars 16.3 billion).
Kandjoze said this to refute an article published by the Windhoek Observer newspaper on 22 September 2016 under the heading “Kandjoze moves to ‘kill’ Kudu”.
“I have no vain in me that say that Kudu must be killed. Whoever is prophesying that the minister should kill the Kudu Gas-to-Power Project is false and rumourmongers,” he said.
The minister said the funds were channeled to Namcor this year to kick-start the national strategic project.
Kandjoze applauded Namcor for recording profit of about N.dollars 400 million during the last financial year (2015/2016), which was announced on 22 September 2016, saying its financial report should indicate the capital allocated towards the Kudu Gas project.
He emphasised that the government has stated its position in the national development plan, Harambee Prosperity Plan, that the Kudu Gas-to-Power Project is a national strategic project that aims to increase Namibia's power-generation capacity.
The minister added that the country continues to extensively explore for petroleum products offshore and to a limited extent onshore.
The seminar organised by Namcor, Namibia University of Science and Technology,and Namibia Energy Institution is attended by students and young entrepreneurs.
It ends Tuesday.
(NAMPA)
ME/ND/CT