Invest in Namibia side event to feature at African Energy Week
Representing one of Africa’s emerging oil and gas producers as well as an upcoming green hydrogen giant, Namibia’s energy landscape is ripe with opportunities.
As such, Namibia’s Ministry of Mines & Energy is inviting regional and international players and investors to seize the opportunities present in the market, with a dedicated Invest in Namibia side event taking place at the continent’s premier energy event, African Energy Week (AEW) 2022, representing the perfect platform to network with Namibian officials.
Taking place during AEW 2022 from 18 to 21 October in Cape Town, the Invest in Namibia event will be led by the ministry alongside the Namibia Investment Promotion and Development Board (NIPDB) and the National Petroleum Company of Namibia (NAMCOR).
This year has been one of the biggest for Namibia’s energy sector with two major oil and gas discoveries made by Shell and TotalEnergies – both made in partnership with NAMCOR – catapulting the country into hydrocarbon success.
With reserves estimated at 11 billion barrels of oil and 2.2 trillion cubic feet of gas, these discoveries make sure of the promise of the country’s potential, and with developments of the finds well underway, Namibia is set to usher in a new era of socioeconomic growth on the back of oil and gas.
What’s more, future finds are on the table with exploration drives led by the likes of ReconAfrica. Following Shell and TotalEnergies’ discoveries, the Canadian explorer extended its exploration license, committing to unlocking the country’s oil and gas potential even further.
Namibia’s hydrocarbon potential extends beyond oil, with new gas developments promising new opportunities for gas investors. Notably, BW Energy is assessing the potential for further exploration of the Kudu gas license offshore Namibia, revising the development concept of the project, and offering tangible financial and environmental benefits.
The project comprises a gas-to-power facility that will utilize a repurposed semi-submersible drilling rig as a floating production unit and is set to usher in new opportunities across the regional power market. During the Invest in Namibia side event, these opportunities will be directly introduced to investors from across the gas, power, and associated sub-sector space.
In this regard, opportunities for investors are endless. With Namibia representing a relatively undeveloped energy market, these discoveries have opened up investment opportunities across the entire energy value chain. From processing facilities to export infrastructure to domestic terminals, the country’s burgeoning hydrocarbons market represents a golden goose for energy investors worldwide. As such, the Invest in Namibia side event serves as the perfect platform to sign deals, secure investment partnerships, and drive southern Africa’s market expansion.
Meanwhile, on the renewables front, Namibia represents one of the biggest emerging hydrocarbon economies worldwide, with large-scale developments already underway in the country. With abundant solar and wind potential, international renewable investors have already begun to capitalize on the opportunities present in the country, and the Invest in Namibia event will only further elaborate on progress. Representing part of the country’s national growth and economic recovery plan, the $10 billion green hydrogen project being developed by Hyphen Hydrogen is the country’s first GW scale green hydrogen project, targeting 300,000 tons of hydrogen per annum, 5-6GW of renewable generation capacity and 3GW of electrolyzer capacity.
Planned to come online in 2026, the project is expected to not only improve energy access, government revenue, and job creation but will establish a green hydrogen economy in Namibia that will trigger newfound growth across the entire economy. Thus, opportunities created by the project itself are significant and potential investors can learn all about them at the side event at AEW 2022.
“The Ministry of Mines & Energy of Namibia, together with NAMCOR, have both been instrumental in securing investment and kickstarting development across the entire energy landscape in Namibia. Serving as the ideal partner for international companies and investors, NAMCOR has been at the forefront of industry success this year, with the recent hydrocarbon discoveries and green hydrogen project kick-offs largely attributed to the company’s commitment to Namibia’s energy future. With the Invest in Namibia side event at the continent’s biggest energy forum – AEW 2022 – a wave of investment in Namibia’s oil, gas, and renewable markets is on the horizon. During the side event, current and potential investors will be able to meet with Namibian officials, network with current players, and sign deals and partnerships that will expand the country’s sector even further while offering lucrative returns for investors,” Tomas C. Gerbasio, Strategy and Business Development Director at African Energy Chamber
Representing one of Africa’s most stable economies, as an investment destination, Namibia is particularly attractive. For investors across the energy sector, Namibia’s fiscal policies, market-oriented E&P agreements, and mutually beneficial partnerships ensure a high rate of return for investors. Accordingly, the market is a win-win opportunity for global financiers and AEW 2022 will be the place to secure your participation in the emerging market.