Africa News Bulletin

Namibia to Produce First Oil by 2030

Namibia expects to produce first oil from its offshore hydrocarbon discoveries by 2030. Appraisal drilling and testing is currently underway to determine the volumes of oil in place, with the start of production positioning the country as a first-time oil producer.

The country witnessed five major finds made by global energy majors Shell and TotalEnergies between 2022 and 2023 in the offshore Orange Basin.

Estimated to hold as much as 11 billion barrels of reserves, first oil spells new opportunities for revenue generation and economic growth for the southern African country.

Speaking at an event in Cape Town this week, Maggy Shino, Petroleum Commissioner at the Namibian Ministry of Mines and Energy, explained that, “For the oil project, deepwater we are thinking of having a Floating Production, Storage and Offloading facility and then exporting the crude to the market.”

Energy Capital & Power

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