Petroleum commissioner says operations in energy sector will continue

Petroleum commissioner Maggy Shino has assured investors that operations in the oil and gas industry will continue without interruption following the death of president Hage Geingob, a champion of oil and gas investments.

Geingob’s pro-business stance was a key factor in attracting major energy players to Namibia.

“In light of the death of our beloved president, we understand that concerns may arise.

However, from the Ministry of Mines and Energy, we want to assure you that despite this loss, the operations within the petroleum industry will continue without interruption,” Shino said.

She reaffirmed the government’s commitment to supporting the growth and development of the oil and gas sector.

“Us continuing with forging ahead to address the pertinent issues of energy security affecting Africa is what president Geingob would have wanted. Therefore, we must go on, even though he is no longer in our midst cheering us on,” Shino said.

Yesterday, Shino addressed attendees at the opening of the two-day Drilling Africa conference organised by the International Association of Drilling Contractors in Windhoek.

She said that the Namibian subsurface has consistently exceeded expectations and data shows that the prospectivity and untapped potential of the Namibian basin are substantial, surpassing initial projections.

Currently, there are four offshore drilling rigs operating in the Orange Basin off Namibia, engaged in exploration and appraisal drilling campaigns led by Shell, Total and Galp.

“Our expectation towards the end of the year is to continue with appraisal drilling with multiple well campaigns and also test the new plays identified by ReconAfrica, Rhino Resources and Chevron, together with their joint venture partners,” Shino said.

She said the ministry is expecting appraisal reports to be coming in from April going forward and as soon as the results are finalised, adding that they will communicate the volumetrics and commence the preparations of the next phase of the industry.

She said the potential for Namibia is not only confined to the Orange Basin, but extends throughout Lüderitz, cutting across Walvis Bay and all the way to Namibe, Angola.

Shino outlined the government’s forthcoming strategy, which centres on directing significant investments towards exploration activities.

This plan entails embracing technological advancements to enhance existing data and cultivating strategic partnerships to facilitate the acquisition of new proprietary and multi-client seismic data.

Furthermore, the government intends to uphold an open licensing regime, aiming to foster a diverse portfolio of oil and gas companies actively seeking additional petroleum resources in the Namibian continental shelf.

“At the same time, it is our hope that within the upcoming months, final investment decisions will be made on the discoveries made by Total Energies, Shell, Galp and the existing Kudu Gas Field operated by BW Energies,” Shino said.