What is PETROFUND
Petroleum Training and Education Fund (PETROFUND) was formed in 1993 in order to offer training in fields of science and information technology through scholarships and support education institution building.
Who governs the affairs of PETROFUND
PETROFUND is governed by a group of independent board of trustees comprising representatives from the Ministry of Mines and Energy (the Permanent Secretary is the Chairperson of the Trust Fund), National Petroleum Corporation of Namibia (NAMCOR), Ministry of Education and oil exploration companies.
Where does PETROFUND get its funding
The Government of the Republic of Namibia through the Petroleum (Exploration and Productions) Act of 1991 empowered the Minister of Mines and Energy to conclude agreements with individual oil exploration companies who are granted oil exploration rights in Namibia to contribute an agreed amount of money to PETROFUND.
We build capacity for Petroleum Industry.
To have a Petroleum Industry sustained by competent Namibians.