Namcor acting managing director Victoria Sibeya says the state-owned entity is actively engaged in every industry phase, from data acquisition and exploration to shaping the downstream and midstream vision.
Speaking during a session moderated by Gugulethu Mfuphi at the Namibia International Energy Conference, Sibeya said: “We are not just bystanders.”
“NAMCOR is deeply involved in data acquisition, exploration and the exchange of knowledge and technology with our partners.
“We are also preparing to invest in downstream and midstream sectors to ensure that we can add value once production begins.”
Other session panellists were Galp head of upstream Adriano Bastos, African Energy Chamber executive chairperson NJ Ayuk and S&P Global Commodities Insights Africa Upstream Regional Research director Justin Cochrane.
NJ Ayuk said Namibia should adopt a deliberate move to accelerate the recent oil and gas discoveries into production.
He also emphasized the importance of speed, investor confidence and strategic collaboration.
NJ Ayuk urged Namibia to seize the momentum of its frontier discoveries while avoiding the pitfalls that have stalled progress in other hydrocarbon-rich African nations.
He said Namibia’s path to becoming a regional energy hub hinge on its ability to learn from international case studies and execute deals that ensure long-term national benefit.
Ayuk cautioned against the delays experienced by countries like Mozambique, Tanzania, Uganda and South Africa, where production was significantly postponed, leading to rising project costs and lost opportunities. “There is a growing movement trying to discourage Africa – and Namibia – from producing its oil and gas. We must resist that.
“Namibia needs to move fast, produce quickly and negotiate the best deals with its partners to ensure the rapid development of its oil discoveries,” Ayuk said.
He said Guyana developed a robust strategy focused on national benefit and successfully attracted billions in investments to fast-track its energy projects.
Bastos said Namibians should be trained abroad in specialized areas like FPSO operations to prepare them for leading once production begins.
“Namibia has capabilities that are rare in the region, but more collaboration with international partners is essential to build the local skills base,” Bastos said.
Bastos said Namibians comprise 25% of Galp’s workforce in the country, including its first female offshore base manager.
“We are proud of the strides we have made. Our nationalization plans are aggressive, and we work closely with [the Namibian Ports Authority] and other local entities to implement meaningful capacity-building projects,” Bastos said.
Cochrane spoke about the need for contract stability, transparent data-sharing and a balanced approach to fiscal negotiations.
“It’s natural that Namibia wants to maximize its benefits, but pushing too hard on international oil companies can result in getting 100% of nothing. The first milestone must be achieving first oil,” said Cochrane.
