Namibia’s decades-long push to become a key player in the global oil and gas industry is finally paying off.
The country is now firmly on the energy investment map.
This was the message at the Namibia Oil and Gas Conference currently underway at the Mercure Hotel in Windhoek.
The event is themed ‘From Exploration to Action: Positioning Namibia as the Next Energy Frontier’. The conference serves as a vital platform for dialogue and collaboration within Namibia’s rapidly emerging oil and gas industry.
Acting managing director of the National Petroleum Corporation of Namibia (Namcor) Victoria Sibeya announced that the country has entered a new chapter in its energy journey, following significant oil and gas discoveries in the Orange Basin.
This year’s edition of the conference has attracted 1 161 delegates and featured 73 exhibitors, showcasing the sector’s growing significance on both regional and global levels.
“After 48 years, 26 exploration wells and over 130 000 kilometres of seismic data, Namibia is seeing the results of sustained effort and strong partnerships. The Orange Basin is now one of the world’s most exciting new exploration frontiers,” she said.
Sibeya highlighted that recent deepwater discoveries, made possible by advanced technology and persistent collaboration, have transformed the country’s offshore prospects.
“The multiple deep and ultra-deep discoveries of 2022 were not due to luck. They were the product of commitment, innovation and cooperation with global partners,” she said.
One of the latest developments in the region is the Volat 1X exploration well, currently being drilled by Namcor in partnership with Azure and Khoras. Drilling began in July, with Sibeya confirming expectations are high as the consortium awaits results.
“There’s pressure right now. But it’s the kind of pressure that comes with progress. We are hopeful for a positive outcome that will further cement Namibia’s place in the global energy landscape,” she said.
With the Orange Basin now attracting significant international interest, Sibeya said Namibia’s offshore sector ranks among the most attractive investment opportunities worldwide.
She called on stakeholders to stay focused and ensure the country maximises the long-term benefits of its growing hydrocarbon sector.
Natangwe Ithete, Deputy Prime Minister and Minister of Mines, Industries and Energy, urged Namibians to use the platform to explore ways to advance the country as an energy leader.
“We must take a stand to manage, guide our offshore discovery jealously, and be a model country that translates oil and gas discovery into a catalyst for peace, unity and prosperity. Let our future generations sing songs of praise to all of us here today for putting in place legal frameworks and operational tools that will ensure there is no mismanagement of these precious resources,” he noted.
-pmukokobi@nepc.com.na