African Energy Week set to position Namibia as an emerging energy competitor
Government representatives, public- and private-sector industry executives, and International Oil Companies (IOC) have committed to African Energy Week (AEW) 2021 in Cape Town on 9 to 12 November.
During a recent visit to Namibia by a delegation from the African Energy Chamber (AEC), the team met with various stakeholders, gathering key insight into the country’s high potential energy sector and promoting AEW 2021 in Cape Town as the ideal platform to drive investment in and growth across Namibia’s energy sector.
By participating at AEW 2021, and taking part in the exciting networking opportunities the conference will present, Namibia is set to accelerate international participation in the country, driving economic growth, and positioning itself as an emerging energy competitor.
With productive meetings underway, many Namibian stakeholders have already declared their commitment to the upcoming AEW 2021.
As of yet, the AEC have met with Hon. Tom Alweendo, Minister of Mines and Energy; Maggy Shino, Namibia’s Petroleum Commissioner; Immanuel Mulunga, Managing Director of the National Petroleum Corporation of Namibia (NAMCOR); and Shakwa Nyambe, Managing Director, Association of International Petroleum Negotiators (AIPN)– Africa Chapter and Founder and Managing Director of the Namibian law firm Shakwa Nyambe & Company Inc., all of which have announced their support of and commitment towards AEW 2021. With an emphasis on local content, technical and regulatory affairs, and exploration and production, Namibia will drive a strong narrative for investment in its energy sector at AEW 2021.
The AEC team met with the Minister to discuss Namibia’s upcoming oil boom, the increase in upstream activities, and the role that AEW 2021 will play in advancing the country’s energy sector. Representing a relatively new oil and gas sector, and yet one with significant resources, Namibia is open for investment and is actively seeking partners to develop its industry, establish Namibian energy independence and security, and fast track economic growth. The AEC’s meeting with Hon. Tom Alweendo reiterated the role of AEW 2021 in contributing to Namibia’s oil boom, driving investment as well as both regional and international participation in the country’s emerging sector.
Furthermore, meetings with Immanuel Mulunga from Namibia’s national oil company, NAMCOR, emphasized the potential of the country’s oil and gas sector, providing insight into the current exploration activities across the country. NAMCOR has fully committed to AEW 2021 and will host a Namibia Pavilion at the event, showcasing the range of investment opportunities present in the sector and providing a base for which critical knowledge about the country can be gained. With NAMCOR playing an integral part in the AEW 2021 program, the country is set to drive investment and ensure energy security for years to come.
“Namibia is committed to AEW 2021, and we are honored to announce the participation by government and industry leaders. Namibia represents one of the most lucrative investment destinations in Africa, with emerging oil, gas and mining industries backed by a focused and modern regulatory framework positioning the country as a global competitor in 2021 and beyond. AEW 2021, as Africa’s premier energy conference, is the ideal platform by which Namibia can showcase its energy sector to the world, attracting significant foreign capital that will drive both energy sector and economic growth country wide,” stated NJ Ayuk, Executive Chairman of the AEC.
Finally, meetings with Namibia’s Petroleum Commission highlighted the role of local content and a supportive regulatory environment in advancing Namibia’s energy sector. Maggy Shino has declared that the Commission is fully committed to AEW 2021 and will participate in the event’s exciting program, hosting various technical and regulatory programs in a bid to promote Namibia and drive a constructive dialogue on the role of regulation. Additionally, the Commission, being particularly content driven, is focused on making AEW 2021 a success and will work hand in hand with the AEW 2021 team to ensure as such.
Namibia’s emerging energy sector – comprising approximately 11 billion barrels of oil reserves and 2.2 trillion cubic feet of proven gas reserves – has attracted significant attention from both IOC’s and oil and gas explorers. Due to the country’s favorable regulatory environment, and under the leadership of Hon. Tom Alweendo, Namibia has seen an influx in upstream activities, positioning the country as one of Africa’s final frontiers for oil and gas exploration. Notably, a recent drilling campaign by Reconnaissance Energy Africa indicated that Namibia’s 6.3 million-acre Kavango Basin may hold billions of barrels of oil, creating the opportunity for an oil boom, driven by progressive policies and a favorable investment climate.
Additionally, Tullow Oil plc is exploring Namibia’s offshore basins and ExxonMobil the frontier Nambie basin in partnership with NAMCOR, with new exploration campaigns by Qatar Petroleum and Shell in Block 2913A and 2914B, as well as the Venus exploration well by Africa Oil Corp, operated by Total Energies, further accelerating upstream activities, all of which are attributed to Namibia’s ease of doing business. The AEC looks forward to the results from these campaigns and aims to further promote the country as a premier investment destination at AEW 2021.
With day two of the AEC’s working visit to Namibia expected to comprise critical meetings with the private sector, Namibia’s role in AEW 2021 has been emphasized. AEW 2021 serves as the ideal platform for African countries to showcase significant opportunities, network with African and global stakeholders, and facilitate the critical deals necessary for Africa’s energy future.