Namibia anticipates its first oil production to commence by 2030, marking a significant milestone in the nation’s energy landscape. Currently, appraisal drilling and testing activities are in progress to ascertain the quantity of oil reserves, with the impending commencement of production positioning Namibia as a burgeoning oil producer.
Between 2022 and 2023, Namibia bore witness to the discovery of five substantial oil reserves in the offshore Orange Basin, thanks to the efforts of global energy giants Shell and TotalEnergies.
These discoveries are estimated to hold a staggering potential of up to 11 billion barrels of oil, opening up exciting prospects for revenue generation and economic growth within this southern African nation.
Addressing a gathering in Cape Town this week, Maggy Shino, Petroleum Commissioner at the Namibian Ministry of Mines and Energy, outlined the vision, stating, “For the oil project, deepwater, we are considering the establishment of a Floating Production, Storage, and Offloading facility, with plans to export the crude to the global market.”
