CEO and chairperson of the Namibia Investment Promotion and Development Board (NIPDB) Nangula Uaandja said Namibians should organise themselves and not solely focus on the oil discoveries.
She said abandoning everything else and merely focusing on the oil discoveries would force the country into poverty should oil become redundant.
Uaandja made these remarks on Tuesday at the official launch of the National Oil and Gas Conference 2023, which is set to take place on 16 and 17 August in Windhoek.
She added that although oil has been found on a deep-sea level in the Orange Basin on the outskirts of Namibia and the Atlantic Ocean, getting that oil out of the ocean may be challenging, but the country cannot wait until it is confirmed that drilling will begin before this conversation can be had.
“How do we make sure that whatever we get from that oil is sustained? How do we make sure that we maximise the benefits for Namibia and its people? How do we make sure we don’t only drill a well, get oil out, export and not benefit upstream, downstream and along the value chain,” Uaandja asked.
The CEO further stated that Namibia will need to listen to guidance and wisdom – and for that reason, the upcoming conference is necessary, as it will have people who have experience in oil and gas, as well as many Namibians who will be impacted by the development of it.
“At this stage, the amount of money required to drill this oil is significant, and more money will be required in the development. Thus, at this stage, the development is in the hands of the private companies that are drilling,” she said.
Uaandja added the government can work with these companies and make sure there are legislative policies that are well balanced towards promoting investment – all while ensuring that Namibians get a fair share as other countries around the world have done.
Meanwhile, chairperson of the Economic Association (EAN) of Namibia Jason Kasuto said if the oil and gas industry brings some promise, then Namibians should keep an open mind and not shy away from the energy conversation.
“We need to own our problems, and we need to own the process of solving them. Let’s not shy away from the real conversations, such as energy mix, transition and shared infrastructure. Namibia has both green hydrogen and hydrocarbon ambitions that it should pursue,” Kasuto said.
Kasuto added that because the oil and gas discoveries in Namibia have become a topical issue by the potential gross domestic product and household income impacts this new industry can bear, intense dialogue is crucial.
“As Namibians, we know our problems: poverty, unemployment and inequality. Consequently, it is important to grab with both hands the opportunities that can help us design a better future,” he added.
The National Oil and Gas Conference is EAN’s annual conference that is hosted around topical issues that shape the economic development of Namibia, Kastuto said, adding that last year, the conference’s focus was on green hydrogen. - Nampa