OPEC Secretary General Haitham Al Ghais expressed excitement about a potential partnership with Namibia during the Namibia International Energy Conference (NIEC) in Windhoek this week.
Namibia is gearing up for its first oil production from offshore discoveries by 2030, with development programs underway. With offshore production, Namibia is poised to become Africa’s fourth-largest oil producer.
Al Ghais stated, “OPEC stands ready to support Namibia in this exciting new chapter of development. We are eager to intensify cooperation with Namibia across various fronts and encourage future investors to explore Namibia’s abundant potential.”
Significant oil and gas discoveries have been made in the offshore Orange Basin since 2022, including Shell’s Enigma-1X and Galp’s Mopane discovery this year.
These discoveries are expected to unlock billions of barrels commercially, but according to Al Ghais, they only scratch the surface of Namibia’s hydrocarbon basins.
With first production on the horizon, Namibia is poised to meet rising global oil demand. OPEC’s Head of Energy Studies Department, Dr. Abderrezak Benyoucef, highlighted the increasing global population and industrial expansion driving oil demand.
He emphasized that oil will remain a significant part of the energy mix by 2045, with transportation and petrochemicals leading the demand increase.
In this context, Al Ghais stressed the essential role of Namibian energy and the need for adequate investment to realize its full potential, a priority shared by OPEC.
