Investors wax lyrical about Namibia’s imminent energy boom
With Namibia on the cusp of becoming a global green hydrogen producer and exporter, and with several major oil and gas projects in the pipeline, Namibia is now regarded as a top international investment destination.
Namibia’s recent oil and gas finds and the government’s commitment to develop a global green hydrogen project, had investors attending the Invest in African Energy Forum in Paris, France last week, waxing lyrical about growth opportunities in country’s energy sector.
The Namibian government recently announced that it had signed a USD10-billion agreement with Hyphen Hydrogen Energy to development a green hydrogen production hub in the southwestern corner of the Southern African country.
During a presentation at the African Energy Forum in Paris, Namibia’s Minister of Mines and Energy and NAMCOR delivered presentations on the opportunities for investors and project developers.
Following a series of upstream oil and gas success, Namibia has emerged as a highly attractive Exploration, Development and Production (E&P) destination, with a series of investors and project developers turning their attention to the high potential market.
According to Shiwana Ndeunyema , acting Managing Director of Namibia’s national oil company (NOC) NAMCOR, and Executive for Upstream Exploration at NAMCOR, Victoria Sibeya, there are several investment and partnership opportunities available in the country.
Large scale oil and gas finds (Investors wax lyrical about Namibia’s imminent energy boom)
“In 2022 and 2023, Namibia witnessed three large-scale oil and gas finds by energy majors Shell, TotalEnergies and Qatar Energy, and Namibia is now looking at harnessing the full potential of the sector,” says Ndeunyema.
“The discoveries will place the country as one of the top oil producers by 2035 while doubling Namibia’s GDP in the next ten years,” says Ndeunyema.
“NAMCOR is accelerating the development of the finds, and according to Sibeya, the company is “talking about a fast-tracked program, if the appraisal program is a success.” She adds that the country is targeting first oil production by 2029.
In addition to the 2022-23 finds, Sibeya shares insights about the Kudu gas project. “NAMCOR is planning to produce 400MW of power from gas, with operations starting in 2026,” says Sibeya.
“The pre-Front End Engineering and Design (FEED) study has been completed, and we expect the FEED study to be completed by the first quarter of 2024. Power generated from the project will be used for domestic purposes, as well as for export to regional markets,” Sibeya adds.
More than just oil and gas (Investors wax lyrical about Namibia’s imminent energy boom)
Meanwhile, Namibia’s investment potential transcends oil and gas, with the country making strides towards establishing itself as a global hydrogen producer and exporter. To this effect, Namibia-global partnerships have played a fundamental role, and as the green market opens up even further, opportunities for bi- and multilateral partnerships are growing.
According to Ndeunyema NAMCOR is in the process of establishing itself as a fully integrated energy company and that they are actively engaging in renewable energy, green hydrogen and R&D programs.
“We are working on establishing three strategic partnerships on green hydrogen. We are also looking at creating more synergies between oil and gas and green hydrogen,” says Ndeunyema.
Namibia’s frontier potential will be on display during this year’s edition of the African Energy Week. African Energy Week 2023 takes place in Cape Town from October 16-20 under the theme, ‘The African energy renaissance: prioritising energy poverty, people, the planet, industrialisation and free market.’
Investors wax lyrical about Namibia’s imminent energy boom
WhyAfrica provides on the ground information and business intelligence about the sustainable utilisation and extraction of natural resources in Africa, and can assist your company through:
- WhyAfrica’s membership offers great business insights to you, your company, and clients.
- Amongst many other benefits, we will publish editorial content about you or your company on the WhyAfrica online platform and on all WhyAfrica’s social media pages – the annual fee is R5,500 and you can find out more or subscribe here: https://www.whyafrica.co.za/product/membership/
- WhyAfrica’s annual 45-day African Road Trip takes place in July and August. We will visit more than 30 project sites and this year we plan to visit Angola, Zambia and Malawi. Sponsoring the Road Trip, or to be a WhyAfrica member, gives you unparalleled insight into the business environment of the countries that we travel to and the project sites we visit.
- To be a member or sponsor allows you access to invaluable, on the ground, business intelligence and a great marketing opportunity for all companies doing business in Africa.
- The main aim of our Road Trips is to promote Africa as an investment destination and to showcase Africa’s greatest companies, and projects to our large global audience, which includes a list of potential investors, venture capitalists and serial entrepreneurs.
- To view the photos of last year’s Southern Africa Road Trip click on the gallery link or follow our Instagram account at why.africa https://www.whyafrica.co.za/road-trips/whyafrica-road-trips/.
- We publish daily online articles on our WhyAfrica platform and post them on social media every day. Our combined online reach is more than 45,000. In-article banner ads are highly successful advertising tools as is advertising space on our website.
- In addition to our bi-weekly newsletters, we publish two printed- and two interactive digital magazines per year. The printed magazines are distributed at major events and conferences throughout the year, and also on our WhyAfrica Road trips.
- Digital magazines are e-mailed to all our subscribers and shared on our social media platforms. A copy of the latest edition is automatically attached to all our outgoing e-mails.
- WhyAfrica magazines provide great marketing opportunities. There are also in-article and on-line advertising opportunities at exceptional rates. Contact me for more information on email@example.com or give me a call.
- To subscribe to WhyAfrica’s free newsletters and magazines click on the link and register: https://www.whyafrica.co.za/subscribe/
- 4. Partnerships
- Maximise your African exposure and link with our large business network through becoming one of only 10 WhyAfrica partners. We have only five prime partnership positions left for 2023, so contact me at firstname.lastname@example.org before the end of March to get the best deal.