Alweendo to address African Energy Week 2024
The Minister of Mines and Energy, Tom Alweendo is set to take the stage at the prestigious African Energy Week (AEW) 2024 conference, scheduled to be held from 4-8 November in Cape Town.
His participation underscores Namibia’s commitment to bolstering investment in its energy sector, presenting new avenues for collaboration with global energy companies.
In December 2023, Alweendo articulated Namibia’s ambition to achieve its first oil production by 2030, emphasizing the country’s focus on collaborative efforts with project partners to realize this goal. Since significant oil discoveries by industry giants Shell and TotalEnergies in 2022, Namibia has rapidly emerged as one of Africa’s prime frontier oil destinations, attracting attention for potential large-scale investments. AEW 2024 aims to showcase ongoing projects, national priorities, and investment opportunities within the country’s burgeoning energy sector.
AEW: Invest in African Energy has become the premier platform for project operators, financiers, technology providers, and government entities, serving as the official nexus for signing deals in African energy. The conference provides a unique opportunity to delve into the latest developments and investment prospects across the continent’s dynamic energy landscape.
TotalEnergies’ recent discovery of oil and gas at the Mangetti-1X well in January 2024 marks a significant milestone, complementing its earlier Venus-1 find in 2022, estimated to hold over two billion barrels. Meanwhile, Portuguese company Galp made two discoveries at the Mopane-1X well in PEL 83, with plans to drill the Mopane-2X well soon. Shell continues its drilling activities at PEL 39, uncovering promising reserves at various wells, including Graff-1, Jonker-1X, Lesedi-1X, and La Rona, illustrating the vast potential of Namibia’s untapped oil and gas resources.
Onshore, independent player ReconAfrica is poised to commence drilling in the Kavango Basin in 2024, aiming to unlock further hydrocarbon potential. Likewise, 88 Energy’s recent farm-in deal with Monitor Exploration in PEL 93 demonstrates growing investor interest in Namibia’s onshore market, which boasts prospective resources of 22 trillion cubic feet of gas in PEL 73 alone.
In addition to oil and gas endeavors, Namibia is making strides in establishing itself as a global green hydrogen hub. Several green hydrogen pilot projects are slated to commence operations in 2024, while the country’s dedicated green hydrogen blended finance vehicle, SDG Namibia One Fund, recently acquired a stake in the Tsau-Khaeb Green Hydrogen project. This ambitious project aims to produce two million tons of green hydrogen annually, leveraging Namibia’s abundant renewable energy potential.
With Namibia’s energy sector poised for growth and development, AEW 2024 presents a prime opportunity for stakeholders to explore investment prospects and forge strategic partnerships. Minister Alweendo’s participation in various panel discussions, networking sessions, and investor meetings during the conference promises to provide further insights into Namibia’s energy landscape and investment opportunities.
For more information on how to engage with AEW 2024, visit www.AECWeek.com and stay tuned for updates on Namibia’s energy journey.
