Investor interest in local oil and gas grows

Ministry of Mines and Energy petroleum commissioner Maggy Shino says international investors are increasingly interested in Namibia’s oil and gas industry.

Shino was speaking at the recent American Association of Petroleum Geologists (AAPG) workshop, which was held under the theme ‘From Frontier to Discoveries: Namibia’s Journey to Major Oil and Gas Discoveries’.

She emphasised the critical role of innovation, strategic foresight and international collaboration in boosting Namibia’s energy prospects.

“While Namibia has garnered historical recognition for its stunning natural beauty, its vast coastline has recently captured significant interest for its potential oil and gas reserves,” Shino said.

She said the workshop highlighted Namibia’s significant progress in the hydrocarbon sector.

Shino acknowledged early exploration efforts that identified Namibia’s geological prospectivity despite initial technical and logistical hurdles.

She referrred to the discovery of the Kudu gas field in 1974, which attracted substantial global interest and investment.

This continued with major discoveries in ultra-deepwater wells like Venus-1, Graff and Mopane, confirming the existence of substantial hydrocarbon reserves.

“These discoveries solidified Namibia’s position as a frontier with significant development potential,” she said.

Shino acknowledged ongoing challenges in environmental stewardship, responsible resource management and community engagement.

“The ensuing discussions and presentations will undoubtedly enrich knowledge and motivate explorers in their quest to unlock Namibia’s full geological potential,” she said.

Shino said discussions focused on the Orange Basin, the sedimentary and tectonic evolution of the region and its impact on hydrocarbon prospectivity, challenges and opportunities in deepwater exploration and current and projected exploration activities in Namibia’s offshore basins.

She said the workshop served as a platform for professionals, academics and industry enthusiasts to share their experiences and forge new networks.