Namibia remains an attractive destination for investments in oil and gas- Geingob
Namibia remains an attractive destination for investments in oil and gas evidenced by the current three onshore wells drilling campaign by Canadian outfit, Renaissance Energy in block 1819 and 1820 located in the Kavango East and West regions, the President HE Dr. Hage Geingob said Thursday.
Geingob during his state of the nation address in Windhoek provided assurances that the exploratory drilling and any future activities will not negatively impact the environment, the people, and the overall ecosystem.
“Serious consideration of environmental protections are enshrined in our constitution and cascades down to all levels,” he said.
Renaissance Energy is currently undertaking a high-risk exploration to confirm a sedimentary basin known as a petroleum system around the general area.
Meanwhile, Namibia’s Minister of Mines and Energy, Tom Alweendo in a statement Thursday, said the good drilling results have provided Namibia with the critical information required to unlock the country’s petroleum prospectivity and are the first step in the process of locating significant accumulations.
“We can now confidently confirm Namibia is endowed with an active onshore petroleum basin,” he added.