Namibia oil boom Namibia’s Oil Boom: Managing Risk and Ensuring Sustainable Growth. 1 billion barrels of oil, between 2029 and 2030. Povey’s outlook for Namibia is similar to the trajectory experienced in Guyana, another oil and gas hotspot. 6 The Namibia Oil and Gas Conference aims to discuss a broad spectrum of issues around investment opportunities, legal requirements, value chains, How to pursue a low carbon economy amid an oil and gas boom. 4 trillion cubic feet of natural gas in Namibia has emerged as a key oil exploration hub with major discoveries expected to yield 2. Namibia is in the midst of an oil and gas exploration boom, with various operators including Shell and TotalEnergies announcing discoveries in the offshore Orange Basin over the past couple of years. Guyana’s rapid economic growth, fueled by major Exxon Mobil Corp. 7 TotalEnergies Chief Executive Officer (CEO) Patrick Pouyanne envisions Namibia experiencing an oil boom similar to Guyana’s, a July 18 Bloomberg report read. A ‘boom’ seems just a matter of time, with major companies like Chevron and Halliburton recently opening Namibia is an oil and gas frontier state. Victoria Sibeya, Tom Alweendo and NAMCOR are finalists for Source: Kehad Snydewel Namibia has become a hotspot for oil and gas activities. Hopefully, Nambia can avoid Africa's resource curse when oil exploration starts. And now oil majors are flocking to Namibia as exploration reveals massive crude reserves estimated at 2. A ‘boom’ seems just a matter of time, with major companies like Chevron and Halliburton recently opening offices in the country. In the ever-evolving landscape of energy exploration, Namibia has emerged as an exhilarating frontier, with Namibia's recent oil discoveries have the potential to transform the country's economy, Namibia's oil boom is taking place against a backdrop of complex geopolitical dynamics. 6 billion barrels. Source: Rigzone news. Namibia is seeing a boom in oil & gas exploration activity. Namibia has yet to commence production, with first oil expected later this decade. S. Namibia Oil and Gas is Namibia's only resource platform when it comes to oil and gas news and information in Namibia. Namibia's recent oil discoveries, particularly Galp's Mopane find, have sparked a surge in interest from major oil companies, with potential reserves rivaling Guyana's. V. Kaula Nhongo. But don’t worry, they’ll still keep sniffing around for more profit opportunities while the Namibian government watches its oil boom fantasies evaporate. Namibia Poised for Economic Boom with Oil Discoveries Namibia is on the brink of an economic transformation, driven by significant oil discoveries off its Atlantic coast. It has not yet produced any oil or gas, but oil majors such as TotalEnergies and Shell have made discoveries estimated at 2. Namibia has become a hotspot for oil and gas activities. ” Daniel Wendt will speak at the webinar "Mitigating Risk Amid Namibia's Oil Boom" on May 21, 2024. Companies like TotalEnergies, Shell, and Galp Energia have found substantial Namibia’s upstream oil and gas sector has garnered significant interest recently, particularly in the Orange Basin off the west coast. So Namibia, which is gearing up to become a major oil and gas producer, holds elections on Wednesday that have been billed as the most hotly contested in the arid southern African nation since it gained independence in 1990. With Shell, TotalEnergies, and Namibia is on the brink of an economic transformation, driven by significant oil discoveries off its Atlantic coast. Share to X. Tue, November 26, 2024 at 5:00 AM But can Namibia avoid the ‘resource curse’ that has plagued other hydrocarbon-rich African countries? Read the full article on African Business. Representing one of Africa’s final frontiers for oil and gas exploration, Namibia’s rich offshore basins are spurring the appetite of regional and international oil companies (IOC) alike, leading to a succession of sizeable oil and gas discoveries that will Namibia’s state-owned Namibian Ports Authority (Namport) has announced plans for a $2. Oil Price. In 2023, Galp joined the party, announcing ReconAfrica has said it struck a massive oil field in northern Namibia. Namibia could see an oil boom thanks to several major discoveries that suggest there could be more oil yet to come. com, Jun 27, 2024, Namibia’s nascent oil industry is going from strength to strength following several discoveries that have provided great enthusiasm around the future of Namibian oil. The Namibian oil boom, if sustained, could inject new life into exploration investments, potentially influencing global oil prices in the years ahead. the opportunities for investors in Namibia’s oil boom; how to navigate the operational and commercial risks of entering the nascent oil and gas sector; possible developments over the next 12 months in the sector and the corruption risks investors will need to prepare for. The energy industry’s attention was piqued Revisit the remarkable story of Namibia’s offshore oil exploration, where a staggering 88% success rate has shattered industry norms. The Namibian Ports Authority (Namport) is positioning itself to benefit and play a major role in Namibia’s oil and gas boom, according to CEO Andrew Kanime. Written by: Julie Hauwanga Namibia has become the center for a new oil & gas boom, with explorations taking place off the coast as well as inland. TotalEnergies SE, Shell Plc and Galp Energia SGPS Namibia is experiencing an oil discovery boom. There have been discoveries in the Orange Basin Namibia has become an oil exploration hotspot after several discoveries in recent years along its coast. Shell, TotalEnergies and Portugal’s Galp have made a series of discoveries of oil (and some gas) off the coast of the south-west African country in the past two years. 6 billion barrels, with production expected to commence around 2030. “We have high hopes for Namibia, especially given its potential to move swiftly from exploration to production. Every day, we hear of an imminent economic boom and the amazing opportunities it will bring our nation. Andrew Maramwidze August 21, 2024 Features, News, Top Stories Comments Off on New policy to We must seize the opportunity to implement policies that will protect investors and Namibia’s best interests when it comes to our natural resources,” Alweendo added. Share on Facebook Have You Heard About Namibia's Oil Boom? I stumbled upon some exciting news—Namibia is quickly becoming a major player in oil exploration! While it hasn't 🇳🇦 Navigating Namibia's Oil Boom: Strategies for Mitigating Risks and Ensuring Sustainable Growth Namibia, long overlooked in the global energy landscape, The discovery of oil and gas presents a complex challenge for Namibia, similar to those faced by countries such as South Africa. TotalEnergies and Shell lead discoveries in Orange Basin. Namibia’s nascent oil industry is going from strength to strength following several discoveries that have provided With Namibia’s potential oil boom comprising a hot topic for African stakeholders, the Minister will promote the significant investment opportunities present in the country, introducing investors, industry executives, and global stakeholders to one of Africa’s final hydrocarbon frontiers. Production Boom. This concept has since been [] Hydrocarbon hotspot Namibia targets major port investments to support oil and gas boom. 2 trillion cubic feet of natural gas reserves. (Bloomberg) -- Namibia, which is gearing up to become a major oil and gas producer, Disenchanted Namibians Vote as Nation Gears Up for Oil Boom. “We discovered oil, we have green hydrogen,” Geingob said. Expectations of a coming boom with ensuing positive effects for the entire economy are high. This gap allows Namibia to learn from Guyana’s experiences in managing rapid growth. Register your interest to hear more about our upcoming webinar on Namibia’s Off a busy pier in Namibia’s main port of Walvis Bay, the seeds of an economic boom are being planted. Click to Download PDF. Chevron, ExxonMobil and Shell are eagerly poised to tap into this wealth, positioning themselves for strategic gains in Africa's new The Organisation of the Petroleum Exporting Countries (OPEC) says it is exploring potential collaboration with Namibia as the nation prepares for its first offshore oil production by 2030. AGL is constructing a warehouse in Walvis Bay and plans additional investments in Lüderitz to support oil exploration and the import of wind turbines and Oil and gas exploration, the Green Hydrogen projects that are being developed, and a resurgent tourism sector all bode well for Namibia’s socio-economic future. Namibia’s burgeoning oil potential mirrors Guyana’s transformative boom, drawing comparisons from industry leaders. It has not yet produced any oil or gas, but oil majors such as The oil major and its partners made what it described as an “encouraging” discovery in an exploration well off the coast of Namibia in February 2022. TotalEnergies and Shell’s discoveries of around 2. Chevron, ENI-BP JV, and Galp advance Namibia has become an oil exploration hotspot after several discoveries in recent years along its coast. The Namibia oil and Gas Conference taking place in the capital, Windhoek, shows just how important these discoveries are. Namibia's coastline hides a treasure trove of oil reserves. Classic Shell. . Type your search and press Enter. However, balancing economic benefits with environmental protection will be crucial. In addition to the clean energy projects, TotalEnergies and Shell have made offshore oil discoveries since last year. It will create Source: Azule Energy Following the May 2024 announcement of the Farm-Out Agreement for Block 2914A (PEL85), Offshore Namibia, Azule Energy announces that all customary third-party approvals from Namibian authorities and As exploration continues, Namibia‘s oil boom shows no signs of slowing down. Namibia’s oil discoveries have been a source of optimism for the future trajectory of the economy. APA Corp. ” * BGSN Member *Breakbulk Namibia's promising oil and gas discoveries face delays due to high gas content and infrastructure needs, 2 days Oil Prices Dip as Traders Brace for U. The newsletter will land in your inbox at 5:30am weekdays. With an estimated 11bn barrels of oil reserves confirmed so far, the southern A potential oil boom in the remote Kalahari region of Namibia, led by a Canadian oil company that plans to begin drilling by December, has provoked growing concern among Southern African Namibia’s upstream oil and gas sector has become a focus of intense interest in recent years. It has not yet produced any oil or gas, but oil majors such as TotalEnergies TTE and Shell SHEL have made discoveries estimated at 2. Source: Bloomberg Off a busy dock in Namibia’s main port of Walvis Bay, the seeds of an economic boom are being planted. This comes as significant oil and gas finds have been made in the Orange Basin since 2022, with major discoveries like Shell's Enigma-1X and Galp's Mopane this This time, the scene is Namibia’s Orange Basin, where Shell’s much-hyped oil and gas discoveries have turned out to be—wait for it—uneconomic. Guyana began oil production in 2019 and now produces 645,000 barrels per day. With Namibia’s potential oil boom comprising a hot topic for African stakeholders, the Minister will promote the significant investment opportunities present in the country, introducing investors, industry executives, and global stakeholders to one of Africa’s final hydrocarbon frontiers. Chevron and other players have ambitious drilling plans for the coming years. com Jul 21, 2021, 08:00 ET. There have been discoveries in the (Reuters) - Namibia has become an oil exploration hotspot after several discoveries in recent years along its coast. The recent oil discoveries in Namibia’s vast natural resources are estimated at 11 billion barrels of oil and 2. Its offshore geology is similar to Brazil, which is seeing a boom in oil. Yet with great excitement comes caution, as other countries’ experience internationally, provides stark lessons on the double-edged sword of oil riches. The French oil giant, along with London-based Shell Plc and Portugal’s Galp Energia SGPS SA, has made big discoveries beneath the Atlantic Ocean about 180 miles offshore Namibia. Tapping into Treasure: Can Namibia become Africa's next oil giant?. Rystad: offshore oil and gas investment to reach $104 billion in 2024. com’s Head of Operations While all recent oil exploration attention has been on Exxon’s CEO Patrick Pouyanné has drawn parallels between Namibia’s potential and the oil boom witnessed in Guyana, suggesting a similar trajectory could be possible. Date. shale oil. Buying into a block in Tanzania or Mozambique has become very expensive. International oil companies are keen to secure a stake in the The discovery is also poised to kick off an oil-and-gas boom in Africa just when it has become clear to most scientists and the state oil company of Namibia, to take a 10 percent stake in Namibia: The Next Oil Frontier. Production could begin by 2030, potentially transforming Namibia's Namibia’s Walvis Bay port is buzzing with activity as the country prepares for an economic boom driven by significant offshore oil discoveries. Production from these discoveries is some years away yet, but efforts to develop Namibia’s resources come at the same time that momentum is picking up for the With an oil boom on the horizon, Namibia’s next leaders must balance economic transformation with pressing social and environmental issues. Significant discoveries made in the southern African country’s Orange Basin in 2022 and 2023 – which include the Graff-1, Venus-1, and Jonker-1X exploration projects –, compounded Namibia’s oil potential could match Guyana following significant offshore discoveries, hopes are high in the country that an economic boom similar to that seen in Guyana could be on the cards. Law of averages could catch up with explorers, as typical success rate for a series of offshore wells is around a third. This is when Namibia has become an oil exploration hotspot after several discoveries in recent years along its coast. The draft State-backed firms from the Netherlands have also partnered with Namibia to create a sovereign wealth fund focused on green hydrogen. Namibia gets ready to become new oil hotspot: Off a busy pier in Namibia’s main port of Walvis Bay, the seeds of an economic boom are being planted. The Government of Namibia is encouraging continued exploration, which could lead to the development of oil and gas fields, transportation, and storage of petroleum products, and eventually refinery construction and associated infrastructure. Tom majored in International Business at Amsterdam’s Higher School of Economics, he is Oilprice. Kanime believes that positioning Namibia as an energy hub aligns with the country’s strategy of being a regional logistics hub. International oil companies are keen to secure a stake in the southern African country’s oil boom, should one materialise. A Country on the Cusp of an Oil Boom. Namibia’s potential oil boom could transform its economy, attract international investments, and create new opportunities for technology and service companies. Namibia’s recent discoveries of vast oil reserves in its deep coastal waters have sparked significant interest from energy investors, positioning the country as a potential leading petroleum producer in Africa. In 2014, ZACK Beauchamp wrote an article titled ‘The Oil Curse: How Black Gold Makes Countries More Authoritarian, Corrupt and Violent’. 10/3/2024 7:00:10 PM. Namibia is looking to replicate the stunning economic boom that oil production has brought to the small South American nation of Guyana. ) of recoverable and commercial potential can be enough to permanently alter the economic evolution of the nation, presumably for the better. and Qatar Energy – announced the discovery of sizeable quantities of light oil in both primary and secondary targets at the Graff-1 well offshore Namibia in late February 2022, ushering in a new era of hydrocarbon exploration and production for the country. Article from Business Express On the back of major oil and gas discoveries in recent years, Namibia’s upstream oil and gas sector is on the precipice of rapid transformation. An influx of foreign investment has helped Namibia to begin exploring its oil Before the Ukraine conflict unfolded, numerous developed nations embarked on a green energy drive, boldly advocating for renewable energy sources and turnin Namibia’s Oil Boom: Galp Leads the Charge Toward Energy Independence ### Galp’s Strategic Position in a Booming Market. Namibia's Oil Boom: Unveiling a Treasure Trove for Savvy Investors Namibia's offshore oil story began with a flicker of hope in the late 1960s. On top of the country’s immense offshore potential, oil and gas exploration company ReconAfrica announced in June 2023 an updated prospective resource estimate of 22. Posted On : 3 Feb 2022 Published By : Tom Whipple. Namibia has become an oil exploration hotspot after several discoveries in recent years along its coast. Namibia, located further south along the West African coast, is viewed as the next potential oil production powerhouse, potentially following in the footsteps of Guyana’s success. Namibia’s oil boom has this week moved closer to home for AIM-quoted explorer Tower Resources PLC, as US major Chevron agreed a deal to take control of an offshore block. Oil companies that came too late to the east African oil and gas boom don’t want to be left behind in Namibia. At the bustling Walvis Bay port, workers are preparing for a surge in activity as oil exploration equipment is Namibia’s oil sector has attracted growing international interest due to significant offshore discoveries, which have the potential to position the country as a key energy player in Africa. Back-to-back offshore discoveries since 2015 have unlocked over 11 billion barrels of oil reserves for Guyana. Spotlight | Namibia Oil majors jostle for Galp's golden opportunity in Orange Basin A dozen energy firms including majors Shell and TotalEnergies are competing to buy the Portuguese group's licence and rights to operate in the largest discovery ever made in the Orange Basin off the Namibian coast. As a young Namibian, this fills me with joy, but there is also some apprehension. Despite not yet producing any oil or gas, major companies such as TotalEnergies and Shell have made discoveries estimated at 2. Shell is exploring Major oil companies like Shell, TotalEnergies, Exxon, and Chevron are vying for a stake in Namibia's oil fields. discoveries, serves as an inspiring example. Now, there is significant competition for a 40 percent stake in Galp’s Mopane oil and gas discovery, with several Western oil majors thought to be assessing the potential of the project. Much more development is on the horizon here and Namibia has all the elements for success. Namibia Is Gearing Up for a Major Oil Boom By Felicity Bradstock , publication Oilprice. and Shell Plc are among energy giants evaluating bids for a stake in Galp Energia SGPS SA’s major oil field offshore Namibia. Understanding the Procurement Process with Buyers and Recognising Opportunities for Local Suppliers Galp's successful appraisal well confirms high-quality oil and gas reserves in Namibia's Mopane field, further fueling the country's oil exploration boom. Oil exploration boom in Namibia. With an estimated 11bn barrels of oil reserves confirmed so far, the southern Deepwater oil exploration is experiencing a resurgence driven by major discoveries in Guyana and Namibia, attracting Big Oil investment despite concerns about peak oil demand. Representing one of Africa’s final frontiers for oil and gas Namibia has become an oil exploration hotspot after several discoveries in recent years along its coast. Oil and Gas puts Namibia on the brink of economic boom: Terblanché Bank of Namibia Governor Johannes !Gawaxab has indicated that the recent oil and gas discoveries off the coast of Namibia hold Nothing Can Stop Namibia's Incredible Oil Boom USA - English USA - English News provided by OilPrice. As workers unload fish from boats or unload cargoes of Congolese sulfur and copper, a huge cylindrical drilling segment is hauled by an elongated trailer to a storage area. Source: Reuters Namibia has become an oil exploration hotspot after several discoveries in recent years along its coast. With recent monumental oil discoveries by TotalEnergies SE and Shell Plc totaling an estimated 11 billion barrels, the country is now on track to transform into a high-end business travel hub. Namibia's oil and gas resources, if proven commercially viable, However, Namibia and Guyana differ in their development timelines. It has not yet produced any oil or gas, Oil exploration boom in Namibia. As Namibia’s second important discovery in recent weeks, Namibia’s oil and gas industry is set to create an influx of new investment, and local content opportunities for the country. The expansion project will involve the construction of new berths and quay walls at the country’s major port of Walvis Bay as well as the construction of a new port Investors are eyeing Namibia’s Orange basin as a potential game-changer in the global oil market. Namibia is planning for first oil production from Venus, estimated to hold about 5. OPEC Secretary-General Haitham Al-Ghais has expressed “excitement” over Namibia oil boom: Potential game-changer, gets investor interest - BizNews: Namibia oil boom: Potential game-changer, gets investor interest BizNews New policy to ensure citizens benefit from oil boom. The oil and gas sector are putting down roots, which is excellent news for Namibian companies and Namibians. Sign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. Namibia’s Bubble Bursts 🌍 A New Era for Namibia’s Oil Boom: Our Simple Approach Excitement abounds in Namibia's Orange Basin with significant discoveries by Shell, TotalEnergies Namibia expects the first oil from major offshore finds by 2030 and is considering a Floating Production Storage and Offloading (FPSO) platform to help it export the crude oil, its petroleum The country's oil discoveries are stacking up. Today we've got expert input from Colin Higgins to help us navigate the world of drilling rigs. The African Energy Chamber sat with Ian Cloke, COO Afentra to discuss the enormous potential of what could engineer Namibia’s new era of hydrocarbon exploration and production Ten years ago, before Shell and TotalEnergies announced their discoveries, there was already talk about Namibia holding billions of barrels of oil. Investors are eyeing Namibia’s Orange basin as a potential game-changer in the global oil market. These recent finds will potentially turn the country into into one of Africa’s top petroleum producers in the coming years. Namibia’s national oil company NAMCOR and the independent exploration group Custos each hold a 10 percent stake in the field. With a low GDP per capita of 4,750; one large high quantity reserve of natural gas or crude oil could drastically change Namibia Oil and Gas. The Orange Basin, off the country’s west coast, captured the energy sector’s imagination in 2022, when Shell and TotalEnergies announced the discovery of light oil and natural gas there, in the Graff and Jonker fields. With significant discoveries off its coast, including TotalEnergies’ Venus find, Namibia primes itself for economic growth akin to Guyana’s ascent. Shell, TotalEnergies, and Portugal’s Galp have all announced significant oil discoveries offshore Namibia in recent years. A boom seems just a matter of time. Since 2022, major players like TotalEnergies SE, Shell Plc, Namibia is an oil and gas frontier state. By Helena Mboti Economist, FNB Namibia. Major companies are investing heavily in the region. Off a busy pier in Namibia’s main port of Walvis Bay, the seeds of an economic boom are being planted. Projects under consideration. Recent discoveries in the offshore Orange Basin suggest that Namibia is on the verge of a historic oil boom. Sign-up below to access the recording. In fact, there have been very large oil discoveries including in the Norwegian North Sea, offshore Guyana (11bn barrels of oil) and, most recently, offshore Namibia. in The National Petroleum Corporation of Namibia (NAMCOR) – alongside partners Shell Namibia Upstream B. In 2011, the former mines minister Isak Katali announced that 11 billion barrels Namibia’s dream of quick riches from various offshore oil discoveries could be shattered on account of a high gas-to-oil ratio in the oil as quoted in a Bloomberg report, that Namibia would experience an oil boom similar to Guyana's. The theme is: Leveraging the oil discoveries for inclusive. Green hydrogen projects are underway, positioning the country as a potential green energy leader, while significant oil reserves promise foreign investment and energy security. Oil exploration boom in Namibia There have been discoveries in the Orange Basin and there are other prospective areas, including Luderitz, Kavango and Walvis basins #AsaaseNews https://lnkd. The online news platform OilNOW noted that Bloomberg had quoted Maggy Shino, Namibia Namibia has emerged as an oil exploration hotspot following several significant discoveries along its coast in recent years. 27, 2024, 10:00 AM. There have been discoveries in the Orange Basin [] Namibia has until recently been largely overlooked by the oil majors. Africa’s Newest Oil Jackpot Comes With a Corruption Curse; Officials from Namibia’s Ministry of Mines and Energy and state oil company Namcor visited Guyana late last year seeking advice about oil developments, including the participation of local business, raising public awareness and expanding port facilities. From having no producing oil fields before, Guyana has risen to become a major oil producer. State-owned Namport to hit market with bid documents in 2024 for construction of dedicated facility at These IOCs, working in collaboration with the National Petroleum Corporation of Namibia (NAMCOR) and the Ministry of Mines and Energy, will be catalysts for Namibia’s hydrocarbon boom. Year-to-Date Returns: -21. Between the more conventional Covering the latest oil and gas news including shale, lng, drilling, Oil and gas rich Namibia elects first female president Published 4 December 2024 10:16 GMT Exclusive Namibia is an oil and gas frontier state. Jun. With major companies like Chevron and Halliburton recently opening offices in the country, it is clear In Africa, previously unheard-of oil powers such as Ghana and Namibia are expecting to see massive oil booms within the next decade, thanks to several successful exploration projects in recent years. 4B. Woodside’s involvement could bring economic benefits to Namibia, including investments, job creation, and technology transfers, while balancing oil development with climate TotalEnergies Chief Executive Officer (CEO) Patrick Pouyanne envisions Namibia experiencing an oil boom similar to Guyana’s, a July 18 Bloomberg report read. Around 22% of respondents viewed frontier African countries like Namibia, Here are three ways to play the Suriname oil boom. Market Cap: $10. Notable sector participants include Tullow Oil pc, who is exploring Namibia’s offshore basins; ExxonMobil, currently exploring the frontier Namibe Basin in partnership with the National Have You Heard About Namibia's Oil Boom? I stumbled upon some exciting news—Namibia is quickly becoming a major player in oil exploration! While it hasn't Namibia’S Oil Boom: A Game-Changer For Africa’S Energy Landscape. TotalEnergies SE, Shell Plc and Galp Energia SGPS SA, have made significant offshore discoveries with an 80% success rate since early 2022. Shell Namibia Upstream B. A spate of farm-in agreements over the last six months suggests that this is changing. 6 billion barrels, with production in the southern African country expected from about 2030. The author assesses the prospects of the Namibian oil and gas With Namibia’s oil prospects rising, it could be the next hotspot for exploration akin to Guyana’s boom. Although the Paris Agreement does not specifically address Namibia activates oil boom Eileen van der Schyff Namibia, one of Africa's final frontiers for oil and gas exploration, stimulates the appetite of regional and International Oil Companies (IOC), Namibia has become an oil exploration hotspot after several discoveries in recent years along its coast. For the country of Namibia – as with all countries of similar standing – uncovering a substantial resource (oil, gas, etc. Big Oil’s success in Namibia will push others to drill for growth . Huge oil discoveries in the deep coastal waters off Namibia over the last two years are generating a wave of energy investor interest in the country’s hydrocarbon reserves. There have been discoveries in the Orange Basin Namibia, which is gearing up to become a major oil and gas producer, holds elections on Wednesday that have been billed as the most hotly contested in the arid southern African nation since it Shell Is Betting Big On Namibia’s Oil Boom. 6 billion barrels, In total, 12 oil majors have shown interest in Namibia’s oil assets to Mediterranean Shipping Company’s Africa Global Logistics (AGL) unit plans to invest up to N$780 million (US$43 million) in Namibia by 2030, leveraging the country’s expanding oil, gas, and renewable energy sectors. Register here. Source: Kehad Snydewel Namibia has become a hotspot for oil and gas activities. And Africa may be the final frontier, with an oil boom emerging as drilling spreads across the continent, And for Namibia, a huge, conventional oil play could be “transformational”, Namibia was mentioned even more than Guyana by executives on oil company earnings calls last quarter, according to data compiled by Bloomberg. Webinar 21st May 2024 Share event 13:00 to 14:00 BST 08:00 to 09:00 EDT In collaboration with Miller & Chevalier, Risk Advisory is pleased to invite you to a webinar on ‘Mitigating risk amid Namibia’s oil boom’, on Tuesday 21 May at 14:00 hrs BST. Companies like TotalEnergies, Shell, and Galp Energia have found substantial oil reserves, sparking a frenzy of interest and infrastructure development. The Financial Times reported this week that in 2025, offshore oil will account for more non-OPEC oil supply than U. The South West Africa People’s Organisation has dominated Namibian politics Namibia’s upstream oil and gas sector has become a focus of intense interest in recent years. Multinational oil and gas company, Shell, has been actively exploring Namibia’s offshore basins since 2014. Namibia is setting its sights on an ambitious future, aiming to leverage both abundant renewable resources and recent oil & gas discoveries to power economic growth. Share this article. He states that Namport’s key role in the logistics hub includes developing new infrastructure Namibia was mentioned even more than Guyana by executives on oil company earnings calls last quarter, according to data compiled by Bloomberg. As workers heave fish from boats, or unload cargoes of sulfur and Congolese copper, a Namibia has long been seen as a potential new source of oil, hampered by a lack of exploration to determine the extent of its reserves. 1 billion port infrastructure expansion project to support the southern African country’s burgeoning energy industry. OPEC Secretary-General Haitham Al-Ghais has expressed “excitement” over a potential partnership with the country, which could one day eclipse the production of many of the group’s African members, such as Libya While all recent oil exploration attention has been on Exxon’s (NYSE:XOM) massive string of discoveries in Guyana, another giant player and Ferdinand van Dijk, a marketing and procurement manager for an oil company in The Netherlands, says Namibians should seize the opportunities presented by the anticipated oil and gas boom in their The OPEC+ coalition is eyeing Namibia for potential membership, as the country gears up to become Africa’s fourth-largest oil producer by the next decade, according to industry reports. “The doors are open. But locals said they were not properly consulted about the drilling, and environmentalists fear an oil boom could threaten The French oil giant, along with London-based Shell Plc and Portugal’s Galp Energia SGPS SA, has made big discoveries beneath the Atlantic Ocean about 180 miles offshore Namibia. Wendt will join a panel of Africa specialists to discuss opportunities for investors in Namibia's oil boom and share practical guidance on how to navigate the operational and commercial risks of entering the nascent oil and gas sector. There have been Namibia has until recently been largely overlooked by the oil majors. Namibia's oil boom: Major discoveries spark exploration rush - BizNews: Namibia's oil boom: Major discoveries spark exploration rush BizNews Exxon Mobil Corp. Namibia’s vast natural resources are estimated at 11 billion barrels of oil and 2. Shell has allocated a quarter of its 2023-2024 exploration budget to the Orange Basin. 6 billion barrels of oil have positioned Namibia for significant oil production by 2030. Namibia, known for its stunning landscapes like the Skeleton Coast and the Namib Desert, is fast becoming more than just a tourist hotspot. Total and its partners — QatarEnergy, Impact Oil and Gas and Namibia’s state-owned oil company Namcor — first announced the discovery of “significant light oil and associated gas” at the These offshore reserves present a huge economic and sustainable development opportunity for Namibia. The author assesses the prospects of the Namibian oil and gas sector, drawing on the concept of ‘linkages’. Namibia is on the brink of an oil and gas revolution. Namibia Is Gearing Up for a Major Oil Boom. Post navigation Namibia’s Walvis Bay port is buzzing with activity as the country prepares for an economic boom driven by significant offshore oil discoveries. xhk lrp bzw znphnvi sguor wbuiapd qjpnr kdrb ougnv lxlrk