Mines and Energy minister Tom Alweendo told Namibians not to be distracted by other interpretations that might have a different meaning other than that the resources are theirs.
He said they have all the rights to decide how to share it with those who are investing in the exploitation of such natural resources.
The minister was responding to public concerns about to whom the much-talked-about oil discoveries on Namibia’s coastline belong.
He said, as per the Constitution, “resources below and above the surface of the land and in the continental shelf, and within the territorial waters and the exclusive economic zone of Namibia, shall belong to the State if they are not otherwise lawfully owned”.
Alweendo was speaking last week at the launch of the Wells to Wheels project, Namibia’s official oil and gas Omni channel.
The initiative, driven by Oxygen Communications, aims to bridge information on the emerging sector to the community. The initiative will host interactive sessions and updates, among others. “As a nation, we are witnessing significant growth and heightened interest in our oil and gas resources – both offshore and onshore. Channels like these will therefore assist the government in engaging with the communities, civil society, youth and women,” he noted.
He also clarified the commercial aspect, citing the companies that made the discoveries are busy analysing data to see how best to translate the discoveries into commercially-viable production.
Namibia typically has 10% ownership of natural resources’ projects through the National Petroleum Corporation of Namibia (Namcor).
Namcor spokesperson Paulo Coelho said the company predicts the first oil production in 2029.
“Several companies are competing to accelerate the process to first oil production, and commence revenue- generation,” he said.
The Standing Committee on Economics and Public Administration held a consultative meeting with the mines and energy ministry to get answers on government shareholding, and how share percentages are determined for investors in the mining and oil exploration industries.
However, Alweendo at State House last week said the government is open to such discussions, but the public must be mindful not to scare investors in the capital-intensive industry.