Mines minister Tom Alweendo yesterday said Namibians should not perpetuate a sense of entitlement, as in a “you owe me” attitude.
He was speaking in a fully packed room during the official opening of the sixth edition of the Namibia International Energy Conference 2024 (NIEC) that is underway in the capital.
“Entitlement is a belief that I deserve something, without making sure that I deserve it. Nobody “owes” us anything, so do not expect to receive handouts on a silver platter. No one is going to hand you projects and jobs just because you are a Namibian. You need to be ready, collaborate and compete,” Alweendo warned.
The NIEC is themed, ‘Reimagine Resource-Rich Namibia: Turning Possibilities into Prosperity’.
The event brings together policymakers, energy stakeholders, investors and international partners to foster industry growth, and position Namibia as a prime investment destination.
Interestingly, Namibia has attracted global attention due to the quantity and quality of recent oil discoveries.
According to Alweendo, the oil discoveries in Namibia’s offshore Orange Basin suggest the biggest oil yields ever found in sub-Saharan Africa.
The mines and energy minister added that the real work now is assessing the commercial viability of these exciting oil finds.
“However, we are confident that the early projections will prove accurate, and that we need to prepare for a hydrocarbon bounty that will turn Namibia into a major oil and gas producer. It is our belief that there is still so much to be discovered, both in the Orange Basin and in other locations. Namibia’s offshore Walvis, Lüderitz and Namib basins hold a tremendous promise, yet they are mostly unexplored,” said Alweendo.
On Sunday, the Portuguese company, Galp Energia, which recently discovered more oil in the Orange Basin offshore Namibia, estimated their hydrocarbon resource could hold 10 billion barrels or more of good quality oil. This discovery adds to other recent discoveries by supermajors, TotalEnergies and Shell.
Alweendo added that one of the most important issues that Namibia will be paying attention to is local content.
The concept of local content is to institute broad policy tools that promote domestic employment business development.
The end-goal is to spread the wealth generated by these natural resources as much as possible among Namibians as well as to develop Namibian skills in the oil and gas industries and promote the establishment and growth of Namibian oil and gas businesses.
However, he warned that as much as Namibia needs investment, these investors must agree that their capital injections must result in a mutually-rewarding relationship that benefits all parties involved.
Interim managing director of the National Petroleum Corporation of Namibia (Namcor) Ebson Uanguta said a lot is still to come.
“Starting from November 2024, we are expecting drilling to take place with our partners, and we are aware of the challenges awaiting en route to production,” he said.
Also at the launch, the executive chairman of the African Energy Chamber Njock Ayuk Eyong applauded Namibia for her achievements so far. He noted that Namibia’s time has come, and it is now time for action.
Ayuk further warned Namibia that with lack of preparation comes frustrations, which is not good for new development.
Moreover, the Organisation of Petroleum Exporting Countries (OPEC) is considering Namibia for possible membership.
This is as resource estimates project Namibia could soon become Africa’s fourth-largest oil producer by output.
OPEC has in recent years lost members such as Angola and other players.
Alweendo, however, this week cautioned it is still premature for Namibia to consider OPEC membership.
Delivering his remarks virtually at the conference, secretary general of OPEC Haitham AI Ghais stated that OPEC stands ready to support Namibia.
“We are ready to collaborate with Namibia. Namibian oil and gas will be needed to tackle the global demand that is expected to increase by 23% by 2045. Thus we will be happy to intensify with Namibia,” said AI Ghais.