Landless People’s Movement chief whip Dawid Eigub is seeking answers from the government over delays in Namibia’s emerging oil and gas sector, particularly the conclusion of the final investment decision (FID).
Eigub has questioned industries, mines and energy minister Modestus Amutse about whether delays in contract negotiations and the planned transfer of petroleum affairs to the Presidency are affecting investor confidence.
“FID is a critical milestone for major phases of oil and gas projects, including procurement, manufacturing and full-scale construction. Can the minister state whether placing petroleum affairs under the Office of the President has affected investor confidence, the pace of negotiations, regulatory approvals or investment decisions,” he asks.
Amutse is expected to respond on Thursday in the National Assembly.
Eigub tabled the notices of questions on Tuesday.
He wanted to know whether the government has received indications from existing or prospective investors that uncertainty over the institutional location and political authority over petroleum affairs is increasing Namibia’s political risk premium.
Eigub is further seeking a firm timeline for concluding outstanding contract negotiations and details of measures being taken to prevent institutional or political processes from causing Namibia to miss commercially critical investment windows.
He raised concerns over investor frustration amid Namibia’s exploration potential in the Orange, Lüderitz and Walvis basins.
He wanted to know how the government is managing concerns raised by investors while balancing investor confidence with maximum national benefit for Namibia.
He is also demanding a clear institutional roadmap outlining outstanding decisions, deadlines and the consequences if key milestones are not achieved on time.
