The Angolan Oil and Gas Service Companies Association (AECIPA) and the Namibian Association for Offshore Oil and Gas Service Providers (NAOGSP) have signed a historic Memorandum of Understanding (MOU). This agreement establishes a cooperative institutional framework with the goal of enhancing bilateral collaboration. The partnership is founded on principles of equality and mutual benefit.
The MOU brings together service companies from both Angola and Namibia, highlighting their commitment to fostering strong, productive relationships within the oil and gas sector. The agreement outlines several key areas of cooperation, including:
- Intensifying Economic and Commercial Cooperation: AECIPA and NAOGSP will work together to promote and facilitate economic and commercial collaboration between their respective members. This includes exploring joint investment opportunities, fostering business partnerships, and encouraging knowledge exchange.
- Sharing Industry Related Information: The two associations will establish channels for sharing relevant industry related information, such as best practices, technical advancements, and regulatory updates. By exchanging knowledge, AECIPA and NAOGSP aim to enhance the capabilities and competencies of their members.
- Conducting Research: AECIPA and NAOGSP recognize the importance of research and development in the advancement of the oil and gas industry. Through this MOU, the parties will collaborate on research initiatives, share research findings, and explore joint research projects to address common challenges and identify innovative solutions.
- Exchanging Market Trends: AECIPA and NAOGSP will actively exchange market trends, including supply and demand dynamics, pricing patterns, and emerging opportunities within the oil and gas sector. This information sharing will assist their members in making informed business decisions and capitalizing on potential growth
areas. - Promoting Regulatory Compliance: Both AECIPA and NAOGSP will ensure that their members adhere to the respective regulatory frameworks of Angola and Namibia. This includes promoting transparency, adherence to environmental standards, and compliance with local laws and regulations.
During the signing ceremony, Braulio de Brito, the Chairperson of AECIPA, expressed his enthusiasm about the collaboration and announced the association’s unwavering commitment to supporting Namibia in the development of its oil and gas industry.
Likewise, Knowledge Ipinge, the Founder of NAOGSP, emphasized the potential of this partnership. He stated, “NAOGSP is keen to collaborate with AECIPA to cultivate a mutually advantageous relationship. By synchronizing our efforts, we can reveal opportunities and tackle shared challenges in oil and gas services.”
AECIPA and NAOGSP are confident that this Memorandum of Understanding (MOU) will foster enhanced collaboration in the oil and gas sector, to the benefit of their respective members.
Furthermore, it is expected to contribute significantly to the overall growth, development and mutual benefits of the industry.