Mines minister Tom Alweendo says with new oil discoveries made this and last year, Namibia is on the cusp of something special.
Between 2021 and 2023, international oil companies exploring for oil in Namibia discovered five recent major oil and gas reserves – the Venus-1X, Graff-1X, Jonker-1X, La Rona-1X, and Lesedi-1X exploration projects.
All the reserves hold an estimated 11 billion barrels of oil, putting the country on par with its northern neighbour and sub-Saharan Africa’s largest oil producer, Angola.
Alweendo, attending the Africa Energy Week in Cape Town, officially opened the Invest in Namibia Energies country-focus session.
“In relation to the energy transition, our green hydrogen strategy is one of the most important activities we are carrying out. It is our mission to become a world-class green hydrogen hub,” Alweendo says.
The minister also says Namibia intends to manage its oil and gas sector to transform our economy.
“We are set to introduce a lot of market policies to ensure that in-country value is being generated from these oil and gas resources,” he says.
Namibia’s petroleum commissioner, Maggy Shino, says everything is much bigger and much better than expected when exploring.
“We are, therefore, in a space where we are looking for bigger financial muscles and companies with more strength to help us take this forward,” Shino says, adding that attracting investment follows the results seen.
Namcor acting managing director Shawana Ndeunyema says they recognise carbon emissions during exploration, creating a robust environmental, social and governance strategy.
Petrofund CEO Nillian Mulemi says Namibia has trained more than 360 people with varying degrees.
“We have further provided specialised training in oil and gas for more than 60 Namibians – 40% of them are with Namcor, and nearly all the experts you speak to at the Namcor with oil and gas expertise come from funding from Petrofund,” Mulemi says.
Green Hydrogen Commissioner James Mnyupe says there are many hydrogen projects in Namibia.
“The biggest question is, is the supply chain capable of meeting the opportunity, and is the demand ready to meet other forms of hydrogen production?” Mnyupe asks.
RichAfrica Consultancy co-founder Selma Shimutwikeni says Namibia is very progressive and is one of the few countries in the world where the constitution protects the environment.
