Namibia is solidifying its position as the premier destination for oil and gas investment in Africa, with over 11 billion barrels of reserves discovered in the Orange Basin since 2022.
The country’s Minister of Mines and Energy, Tom Alweendo, emphasized the need for African nations to safeguard their socio-economic advantages from ongoing oil and gas operations during the African Energy Week 2024.
“Namibia is working closely with energy companies to fast-track delivery, and we call on all stakeholders to embrace the challenge to build an African energy sector that is not only economically robust but environmentally responsible,” Alweendo stated.
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Namibia’s ambitious energy strategy is driven by its vast potential, with TotalEnergies, Shell and Galp Energia currently conducting appraisal drilling.
The National Petroleum Corporation of Namibia (Namcor) plans to drill three oil and gas wells by the first quarter of 2025.
According to Victoria Sibeya, Executive: Exploration Upstream, these wells aim to understand the continuity of hydrocarbon flow from recent discoveries and identify new ones. Maggie Shino, Petroleum Commissioner, anticipates the production of first oil by 2029, with the possibility of an earlier start.
The country is also exploring its significant gas potential. “Local content across the value chain is at the heart of Namibia’s energy strategy,” said Selma Shimutwikeni, CEO of RichAfrica Consultancy.
“We are well-positioned in SADC to cater not only for our own needs but for the region as well. We can be the next energy hub in Southern Africa.”
Namibia launched its IEA energy report, highlighting the country’s exceptional solar and wind energy potential. Accelerating renewable energy deployment could reduce reliance on electricity imports, improve energy security and lower costs for consumers.
The 7th Namibia International Energy Conference (NIEC) in April 2025 will convene industry experts, investors and decision-makers to discuss Namibia’s emergence as a regional energy hub. Shimutwikeni noted, “For the 7th edition of NIEC, we are moving from reimagining resource-rich Namibia to leading the way with impactful action.”